Ethical Obligations and Decision-Making in Accounting 2nd Edition by Steven Mintz, Roselyn Morris

Exercise 10

What is the “comply or explain” principle? How does it relate to conformity with corporate governance principles in the U.S. and in other countries around the world?

Step 1 of 2

Corporate governance:

Corporate governance is defined as a rule and law under which organization regulated, operated, and controlled.

Accounting:

In simple words, accounting is defined as a process to record, classifying, and analyzing the financial information of an organization. Accounting requires a specific knowledge because it is not a single process as it includes many sub-processes under it.