GUARDIANS OF GOVERNANCE: EVOLVING ROLES AND CHALLENGES OF CORPORATE BOARDS IN ENSURING ACCOUNTABILITY

Abstract

This paper delves into the critical role of corporate boards in enforcing accountability within organizations, exploring the intricate balance they maintain amidst evolving challenges and heightened shareholder expectations. By examining the structures and processes that underpin effective governance, this study highlights the consequences of breaches by directors and the mechanisms in place to safeguard against such lapses. Utilizing a blend of Pakistani and international legal frameworks, case studies, and theoretical constructs, the paper scrutinizes the multifaceted responsibilities of directors, from fiduciary duties to handling derivative suits and engaging in corporate social responsibility.