- Jumman Sani
- Lecturer, Faculty of Business Administration, University of Development Alternative
In Bangladesh, corporate governance and financial transparency has a complicated relationship which is examined in this study. In this study it is also discussed how the mechanisms like inefficient board independence, ineffective audit committees, inadequate financial disclosure practices and lack of regulatory enforcement can be the causes of regulatory failure and financial scandals which can lead to the distrust of the stakeholders and doubt the whole transparency process. With the help of qualitative technique which includes interviews of the stakeholders, document analysis and content analysis, it is found that corporate responsibility is weakening by significant institutional and political issues. Though Corporate Governance Code 2018 and Companies Act 1994 exist, results indicate that implementation of corporate governance is still not up to the mark and in a remarkable state. Increased activism of stakeholders, improved financial disclosure strategies, better audit procedures, greater board independence and stronger regulatory authority etc are some developed approaches that are suggested by the study as well. It also indicates how the rules for openness are changed by CSR reporting and digital financial disclosures. For promoting a moral, responsible and financially transparent business environment that assist Bangladesh’s sustainable economic growth, it is required to address these constructional and organizational limitations.
