Most audits combine the use of checklist based quantitative and qualitative procedures, focusing on how well the auditee has met the criteria of the audit, including the knowledge level of stakeholders. Most organizations adopt information system control framework such as ISO27001 and COBIT, requiring regular audits by either internal or external channels. Repeated information security (InfoSec) incidents have been haunting the confidence of people on how well enterprises have been maintaining the confidentiality, integrity, and availability (CIA) of their InfoSec systems. It will also affect executive performance that will eventually result in poor corporate performance. Companies may not be able to make payments to directors outside of the scope of the law once it has been approved and this has the tendency of stifling many foreign companies that have established their business in Switzerland to benefit from low tax regimes. Significantly, among these constrains were the board’s decision - making authority. Notwithstanding the numerous merits espoused this resolution, the Swiss Resolution had a number of limitations. The Resolution further espoused strict sanctions of culprits who violate the Executive compensation Resolution. The findings revealed that, a suitable executive compensation requires the implementation of all decisions sanctioned at Annual General Meetings (AGMs) thereby legitimizing the rules on compensation through the Article of Association. In view of this phenomenon, this descriptive study reviewed the recommendations advocated by the Swiss Resolution by assessing the pros and cons of the referendum. One of such recommendation was proposed through the Swiss Referendum on Executive compensation. Consequently, several practitioners and stakeholders have recommended a number of systems to regulate the determination of executive compensation. The quest to determine a suitable Executive Compensation package for Executives has always been subjected to deep interrogation by shareholders and other corporate stakeholders. Finally increasing interest in corporate governance also arises from growing participation in corporations by small shareholders. In addition, technology and the Internet continue to add to this growth. In the late 20th century, the size and number of corporations was further spurred by the demise of command economies, financial deregulation, trade liberalisation, privatisation of government business enterprises and the demutualisation of mutual societies. The growth of corporations in the Western world and beyond since World War Two has been fuelled by both economic development and increased consumerism. The interest in corporate governance also arises from the increasing significance of corporations in daily life. The structures and laws by which corporations are governed - and in some cases misgoverned - are matters that have now moved into the public arena in a way that almost begins to approach the discourse on ‘civic governance’, that is, the government of the state. The recent corporate collapses of Enron in the United States and revelations of accounting malpractice by WorldCom, Xerox and others have resulted in the issue of corporate governance becoming one of significant importance. In recent years, however, the words have been the subject of extensive coverage in the financial pages of newspapers and electronic media. Corporate governance is an expression that was once confined in usage to a rather narrow group of academics, lawyers and boardroom participants.
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