Question: Cite an example of a recent failure in corporate governance.
Example how it suppose to look:
In 2008, Lehman Brothers filed a chapter 11 bankruptcy protection.
Its bankruptcy filing listed debts of close to $613bn.
The struggles of the company was due to the weak corporate governance arrangements which did not safeguard against the excessive risk taking that could be blamed to the economic crisis.
Such corporate failures crisis were hidden amongst other weaknesses areas.
Other weak areas including corporate risk management m board of directors, remuneration scheme, and nomination committees (Acito, Hogan, & Imdieke, 2014).