Limitation to Business information

[Yakub02]

The main limitations of information provided on a voluntary basis are that:  the company can decide what to include in the report and what to leave out;  The information is often presented in a very positive form, as public relations for investors, and might not be entirely reliable.

Requirements for disclosures about corporate governance Institutional investors need information about corporate governance in order to make better investment decisions.

Such information is provided in corporate governance statements as part of the annual report. Corporate governance statements by listed companies are often quite long.

Typically, they fill five or six pages in the annual report and accounts. The specific content of a corporate governance statement may vary from jurisdiction to jurisdiction, although modern corporate governance reports often rest on similar foundations and require similar disclosures.

Requirements in Nigeria Nigeria has a modern and comprehensive corporate governance code. The Financial Reporting Council of Nigeria has unified the various sectoral corporate governance codes into one, the Nigerian Code of Corporrate Governance 2018.

The Securities and Exchange Commission (SEC) requires that the annual reports of all quoted companies should include a corporate governance statement.

The corporate governance report should convey clear information on the strength of the company’s governance structures, policies and practices to stakeholders..

 

[Sorfiyat2016]

Corporate governance is a vital approach in accounting and business parlance . The reason is that it gives avenue for for updated and up to date information in line of business.

The rule and regulations are well entrenched in the book of business of corporate governance .

Both Nigeria and European countries are so attached to time to time corporate governance activities . With this,they issue guideline from time to time and ensure professionals abide the guideline as being released .

 

[Yakub02]

Contents of an environmental report Typically, an environmental report will include an outline of:

the entity’s policies towards environmental issues;

 any improvements since previous years;

 an assessment of the key risks faced and how the company intends to respond;

 government legislation on environmental matters and how the entity ensures compliance with the legislation;

 significant initiatives taken by the company to improve environmental issues;  key environmental performance indicators: targets of the industry and the relative performance of the entity; and  financial information relating to environmental costs, including the entity’s accounting policy.

A social report (which may be combined with the environmental report) may refer to:

 employee numbers and employee involvement;  employee sick leave, health and safety issues, accidents at work, recruitment of ethnic minorities and the disabled;