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Governance Failure: Insufficient Prevention Methods

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Some say that corporate governance failures are the result of human greed and that they will occur anytime there is too much money on the table. Others say that the governance failure occurs because there are insufficient preventive, detective and corrective processes in place. What argument or evidence can you present to demonstrate that one of these statements is true and the other statement false?

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Solution Summary

This is a discussion on governance failures and preventive, detective, and corrective processes.

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I strongly support the latter statement that governance failures occur due to insufficient preventive, detective and corrective measures in place, though there might be elements of greed and avarice that might also play a role in failure. Humans by nature are greedy, and we tend to accumulate more than what we need to live a reasonable standard of living. Thus ...

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