Maintaining corporate governance standards in Ghana: The role of Board Directors

Abstract

The effects of the collapse of a company, whether private or state-owned can be very traumatic for the employees and others in the society. It can also have repercussions for the nation's economy. Experiences suggest that the risk of such a collapse is heightened where poor corporate governance practices prevail. This article reviews the OECD principles on good corporate governance and the corporate governance frame work in Ghana. The writer discusses the critical role of the board of directors in ensuring the maintenance of good corporate governance. He concludes by offering some suggestions that will help boards to efficiently discharge their responsibilities.