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Question: Corporate governance is the process of protecting limited resources such as time, talent, and assets. It sometimes is referred to as accountability. Qualities (for example, transparency, objectivity, and verifiability) defined and developed in the Financial Accounting Standards Board's (FASB) concept statements are included in the corporate governance processes and policies. Corporate management is often supervised by a Board of Directors, financial intermediaries (for example, banks), and regulations (for example, local, state, regional, national, and international laws), but the relationships between and among supervisors and their subordinates can be complicated and confusing.
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