Elucidate the following: Need for corporate governance.

Corporate Governance is required to create a corporate culture of transparency, accountability and disclosure. It refers to compliance with all the moral & ethical values, legal framework and voluntarily adopted practices. It helps organisations to achieve and improve- Corporate Performance Enhance Investor Trust Better Access to Global Market Combating Corruption Enhancing Enterprise Valuation Reduced Risk of Corporate Crisis and Scandals Accountability Efficiency with which a corporation employs assets Ability to attract low-cost capital Ability to meet societal expectations Corporate governance definitely acts as a spirited move towards achievement of excellence by a corporate not only in terms of increased profits and revenue but also respectability for the laws of the land, protection of interests of shareholders, creditors, employees and other stakeholders of the organisation.