The ever-increasing number of apparent financial and accounting frauds and corporate governance failures in the US is stepping up the re-examination of corporate governance practices and calls for reform worldwide.
It is also leading many to question whether the US system deserves its status as the leading governance model. Some proposals for reform of the US system would implement disclosure requirements similar to those that have been in place in the UK for a decade and have gained ground throughout Europe, Asia and Latin America. Such disclosure requirements focus on whether a company has implemented elements set forth in an otherwise voluntary corporate governance code of best practice.
