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    <title>REFORMS IN CORPORATE GOVERNANCE</title>
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    <description>The board of directors is the central governance actor, accountable for strategy, internal controls and transparent reporting to stakeholders; shareholders appoint directors and auditors and demand board accountability; management must execute board direction and provide timely, transparent information. Legal reforms urged include combating insider trading, empowering regulators, introducing whistleblower protection, defining director independence and duties by statute, harmonising accounting standards, promoting independent directors, obligating active institutional investor participation, protecting minority shareholders and improving auditor independence and audit committee oversight.</description>
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