Open AccessTRANSPARENCY OF INFORMATION – IMPORTANT MANAGEMENT INSTRUMENT IN ENSURING PERFORMANCE AND DEVELOPMENT OF CORPORATE GOVERNANCE
Author(s) -
Aliona Bîrcă,
Liliana Lazari
Publication year - 2021
Publication title -
akademos : revista de ştiinţă, inovare, cultură şi artă
Language(s) - English
Resource type - Journals
eISSN - 2587-3687
pISSN - 1857-0461
DOI - 10.52673/18570461.21.1-60.09
Subject(s) - transparency (behavior) , business , credibility , accounting , corporate governance , remuneration , audit , sustainable development , control (management) , control environment , process management , internal audit , finance , economics , computer science , joint audit , computer security , management , political science , law
The degree of transparency of an entity is assessed according to the entity’s policies, control environment and access conditions of the various categories of stakeholders. Modern corporate governance determines the entity to adapt to the new market conditions, promoting a sustainable evolution in conditions of maximum transparency. In ensuring sustainable development, management must model its resources in such a way that the cost does not exceed the price and, at the same time, give credibility to stakeholders that the entity will reap long-term benefits. Performance means the most appropriate tools for translating financial and non-financial information into the entity’s successful language in a sustainable way. Promoting transparency in the decision-making process involves placing on the entity’s website information on the structure of corporate governance, risk management, internal audit and internal control, the company’s remuneration policy, the performance appraisal system and the budgetary system.