5
oCrises and Bankruptcies
nEast Asian and Russian Financial
Crisis
nScandals involving major
corporates in the US and Europe
oResponse
nFinancial Stability Forum
(1999)
nReview and changes to
company law have tightened audit functions,
increased transparency, and improved the role of
shareholders
nStringent requirements from
regulators on compliance e.g. SOX
nCodes of corporate governance
Impact of
Global Developments on Corporate Governance