**5. Scope of corporate governance**

OECD [5] posits that CG characteristically addresses procedures to manage, control, and decrease non-financial, operational, and financial risks by structuring the accountability, integrity, and transparency of an organization's management actors (i.e. board members, managers, employees and shareholders) at varying levels within an organization. Key scopes include:


While various institutional arrangements can be adopted for CG, an organization's board of directors is viewed as the framework's centerpiece; the board envisions leadership on tactical, strategic, and significant operational issues and is deemed as possessing a duty of care for an organization by setting the tone at the top and promoting a CG framework that covers all levels of the organization and risks.

### **6. Principles of corporate governance**

OECD [5]; Ngozi and Raymond [8] posits that for CG to effectively function, the following principles must be present; transparency, accountability, and integrity of CG.


In supporting these principles of good CG, organizations should be willing to enact the key tools required to reduce risk, corruption, and enhance their zero tolerance for abusive actions. The optimal establishment, execution and restructuring of such a system will guarantee that corruption is neither a tolerable nor legitimate business coat.
