Aspects and Considerations Regarding the Corporate Governance in Romanian Banking System and Financial Reporting Standards

Dobre Elena () and Miþac Mirela Claudia ()
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Dobre Elena: Ovidius University of Constanta, Faculty of Economics Sciences
Miþac Mirela Claudia: Ovidius University of Constanta, Faculty of Economics Sciences

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 1, 1365-1370

Abstract: Drawing on the lessons learned during the last crisis, started in mid of 2007, on the global economy, and especially the negative impact over the international banking system, was issued by the Basel Committee on Banking Supervision a set of principles for enhancing corporate governance practices for banking organizations. Enhancements to the framework and mechanisms for corporate governance in banks should be driven by such benefits as improved operational efficiency, greater access to funding at a lower cost and an improved reputation. In Romania, National Bank of Romania has an important role in in order to increase the enhancement of the corporate governance in banking system. A core role was played by the implementation of the International Financial Reporting Standards in Romanian banking system in order to support o sound corporate governance.

Keywords: corporate governance; banks; supervisors; Basel Committee. (search for similar items in EconPapers)
JEL-codes: E42 E58 (search for similar items in EconPapers)
Date: 2012
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