Shaik Md Noor Alam, Hazlina
Whistleblowing and corporate governance: Accidental allies or lifetime partners?
International Conference on Corporate Law (ICCL) 2009 1st - 3rd June 2009, Surabaya, Indonesia.
UUM COLGIS Universiti Utara Malaysia, Sintok, pp. 1-10.
This paper discusses various issues of whistleblowing, from imposing liability on any employee for failing to act when faced with any corporate wrongdoing, to exploring the legislative protection that would be available to him, should he decide to do so. Whistleblowing has long been seen as a terrible thing to engage in, offering little or no benefit to the whistleblower involved. However, several key legislations, such as the United States Sarbanes-Oxley Act 2002, the United Kingdom’s Public Interest Disclosure
Act 1998, along with Malaysia’s very own Capital Market Services Act 2007, show that whistleblowing has come a long way. All these Acts, while conceived for different purposes, all share common traits, to recognize and
legitimatize the act of whistleblowing and to provide sufficient protection to whistleblowers. All this is done with the hope that the stigma that is frequently associated with whistleblowing is removed, in order to encourage more employees to bring to light corporate misconduct, as well as to encourage more voluntary whistleblowing in order to promote and enhance transparency and accountability in corporate governance.
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