University of Khartoum

Corporate Governance with Special Reference to Sudan

Corporate Governance with Special Reference to Sudan

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Title: Corporate Governance with Special Reference to Sudan
Author: Mohamed Shaib, Abdelkhalig
Abstract: Investments in all over the world need to be able to attract funding from investors in order to expand and grow. Before investors decide to invest their funds in a certain business, they want to be as sure as they can be that the business is financially sound and will continue to be so in the foreseeable future. Investors therefore need to have confidence that the business is being well managed and will continue to be profitable and well observed and supervised. In order to have this assurance, investors look to the published annual report and accounts of the business and to other information releases that the company might make. They expect that the annual report and accounts will reflect a true picture of the company's present position. After all, the annual accounts are subject to an annual audit whereby an independent external auditor examines the business' records and transactions, and certifies that accounts have been prepared in accordance with accepted accounting standards and gives a 'true and fair view' of the business' activities. However, although the annual report may give a reasonably accurate picture of the business' activities and financial position at the point in time, there are many facts of the business that are not effectively reflected in the annual accounts which increasingly raise the question of the auditing credibility and whether keeping well prepared annual accounts is sufficient enough to convince investors to enter into a business in the particular country or not. There have been a number of high-profile corporate collapses that have arisen despite the fact that the annual accounts seemed fine and accurate. These corporate collapses have had an adverse effect on many stakeholders, shareholders who have seen their financial investment reduced to nothing, employees who have lost their jobs, and in many cases the security of their company pension, which has also evaporated overnight; suppliers of goods or services to the failed companies; and the economic impact on the local and international communities in which the failed companies operated. In essence corporate collapses affect us all. Why have such collapses occurred? What might be done to prevent such collapses happening again? How can investor confidence be restored? The answers to these questions are always linked to corporate governance, a lack of effective corporate governance meant that such collapses could occur; good corporate governance can help prevent such collapses happening. The thesis is devoted to the examination of corporate governance and its attributes and in particular how these are reflected in the corporate law and practice in the Sudan.
Description: 91 Pages
URI: http://khartoumspace.uofk.edu/handle/123456789/10346
Date: 2015-05-05


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