Yet slimming the board is not the only reform needed to improve corporate governance.

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Government legislation to improve corporate governance in the wake of the scandal is currently becalmed in parliament.

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These efforts include steps to improve corporate governance and banking practices, overhaul the legal frameworks, and strengthen prudential regulation and supervision of financial institutions.

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Its aim, to improve corporate governance, tighten the rules governing company accounts and clearly apportion responsibility to senior managers to certify public accounts, is laudable.

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Like America, Europe has responded with measures to improve corporate governance.

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But he makes a powerful case that, despite all the efforts of recent years, much more needs to be done to improve corporate governance, especially in America.

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It is the tenth anniversary of the enactment of Sarbanes-Oxley, the landmark legislation intended to improve corporate governance in the wake of the 2001 bankruptcy of Enron.

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PERS's campaigns to improve corporate governance have become too diffuse.

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And the Tokyo Stock Exchange, an unlikely reformer, has ruled that all listed companies must now disclose what they are doing to improve corporate governance when filing their results.

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To curtail illicit flows he suggests the government should: (i) ensure that the rule of law is applied fairly and swiftly, (ii) strengthen regulatory and legal institutions (iii) adopt policy measures to improve both public and corporate governance such as improving tax compliance and collection.

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The move, if it happens, is aimed to improve "efficiency, management, corporate governance and transparency" at Thailand's five airports, the government says.

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State enterprises can also improve their corporate governance by selling shares to the public, which CMG has done, most notably in its toll road subsidiaries.

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