Abstract
The article sets out the different elements involved in the corporate governance and enforcement process in Germany, including the two-tier board, the executive board's responsibility for preparing financial statements, the statutory audit, the approval of the financial statements by the supervisory board, and the arrangements for addressing unsuitable accounting. After having described the current framework, it then goes on to review how corporate governance and enforcement is likely to evolve, including improved accounting, improved audit and changes in the role of the supervisory board. It also examines the case for a compliance review mechanism.
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