In what some call a worldwide corporate-governance movement, shareholders are pushing for stronger corporate-governance laws, teaming with investors from different countries and negotiating behind the scenes with businesses, says a USA Today report.
Dozens of countries are developing systems of watchdog corporate governance and shareholder activism, with some modelling themselves after US and UK governance practices or the Sarbanes-Oxley Act, the US anti-fraud law passed after the Enron accounting scandal six years ago led to the demise of the company. South Africa is among countries that have recently beefed up their corporate governance codes to strengthen shareholders' oversight of corporate boards, pay practices, accounting and auditing policies and other watchdog issues.
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