Do students need to show understanding that there are different frameworks for corporate governance around the world?
Yes, to some extent but not in great detail. Students can cite codes that apply to their own countries as well as codes that apply to other countries in answering questions. For example, citing the UK Combined Code may be a good starting point when describing the main elements of an effective governance system. However, related codes exist in the UK and there are equivalent codes in other countries and regions of the world which students could mention. The study guide specifically mentions the Sarbanes-Oxley Act, as this rules-based legislation has international application. Gaining a broad knowledge and understanding and developing the ability to critically evaluate the key principles of these codes is more important than learning the precise wording or a detailed knowledge of their content and clauses.
