Corporate governance is the system of rules, practices and processes through which businesses are directed and controlled. The fundamental role of corporate governance is to match the interests of the various stakeholders involved within a company. The four main pillars of corporate governance are the board of directors, accountability, director compensation and shareholder engagement. Governance provides the methodology through which a society can pursue its goals and objectives within the current social, administrative and market context. Corporate governance attempts to achieve rights and fair treatment of shareholders while maintaining the interests of other stakeholders and to manage the roles and responsibilities of the board of directors by preventing unethical behavior through disclosure of documents and transparency. In 2001-2002, accounting fraud, stock manipulation, and corruption caused the collapse of large corporations such as Enron, World Com, Arthur Anderson, and many others. Following these incidents the corporations wanted t...