*Corporate governance-an overview and comparative malaysian fram*e*work *with the *australian* framework Executive Summary This report documents overview of corporate governance and comparative Malaysian framework with the Australian framework. Corporate governance is not something new in today’s world. Good corporate governance is essential for entities that want access to capital. Corporate governance responsibilities rest with the board of directors, a number of corporate governance guidelines help to foster improved corporate governance practices. The guidelines foster awareness of a director’s responsibility and help communicate society’s expectations to the wider business community. Such guidelines include items such as board structure, financial reporting, ethics, stakeholder’s remuneration and disclosure. There are no complete definitions for corporate governance. It would be very difficult for directors to understand the extent of their duties towards proper corporate governance without proper knowledge of the relevant legislation or rules. Corporate governance is a global term that includes issues of board directors in directing and controlling a company’s operation. These include issues about the interaction with the management and with stakeholders. These articles will deal with the private sector and with the companies registered under the Companies Act 1965. The principles that are discussed are applicable to both the private and public sector. Issues that affect: A director as an individual A director as an integral part of board of directors (BOD) A director’s role in governing the company’s operations A director’s interaction with the company’s shareholders Issues that binds the above altogether is corporate governance. The elements of corporate governance and the outline of the board’s responsibility for the effective governance of a company will be discussed more. There are many definitions, among them are:...