Advanced Research Journal of Banking, Economics and Finance

Advanced Research Journal of Banking, Economics and Finance (ARJBEF) ISSN 1273-2109:  Vol. 2(1), pp. 035-038November, 2019.  © Advanced Scholars Journals

Review paper

 International corporate governance standards in Austrian and Italy after financial crisis, corporate scandals and manipulation


*1Dinh Tran Ngoc Huy, MBA2

1*Banking University, Ho Chi Minh city Viet Nam

2* MBA, Graduate School of International Management, International University of Japan, Niigata, Japan

*Corresponding Author:E-mail:

Accepted 30 October, 2019


After the recent global crisis, corporate scandals and bankruptcy in US and Europe, there is some certain evidence on weak auditing, risk management, accounting and audit system. This paper chooses a different analytical approach, using qualitative combined with comparative analysis method, and among its aims is to give some systematic opinions on corporate governance criteria as a benchmark for stock markets. Firstly, it classifies limited Western European representative corporate governance (CG) standards into groups, including corporate governance principles from Italy and Austria, so-called relative good CG group, while it uses OECD and ICGN principles as reference. Secondly, it, through analysis, identifies differences and advantages between above set of standards which are and have been used as reference principles for many relevant organizations. Third, it establishes a selected comparative set of standards for Western European representative corporate governance system in accordance to international standards. Last but not least, this papercovers some ideas and policy suggestions.This study also present opinions for further researches on a detailed plan and policy fir controlling and managing risk from the standards suggested for internal control and audit.

Key words: Corporate governance standards, board structure, code of best practice, financial crisis, corporate scandals, market manipulation, internal audit, internal control, external audit

JEL Classification:  G00, G30

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