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The paper deals with the legal concept of corporate governance and its key role in handling challenges encoutered by the company all along its activity. The corporate governance has been first introduced into the palestinian law after the promulgation of the governance code in 2009. The later has widely been inspired by the worlwide experience that have proven the efficiency of this concept and its contribution to build trust in companies which apply the governance rules. To understand this concept, the paper focuses on 11 key points. It first starts with a set of different definitions that could be given to corporate governanace. For instance, The Organization for Economic Cooperation and Developmentand Governance (OECDG), defines it as a system that directs and controls the actions of companies, by defining, clarfying the rights and duties between different parties connected to the company, and establishing the rules and procedures necessary to make decisions related to the management company. Governance has a set of keyfeatures such as discipline, transparency, independence, accountability, responsability and justice. It is based on three pillars : ethical conduct, stakeholders roles and risk management. The need for corporate governance has been triggered by many factors such as the global financial crises, the liberalisation of financial market as well as the increasing transfer of capital. furthermore, the determinants of governance could be external such as the investment general climate in the country, the financial laws efficiency. The internal determinants are related to the provisions contained in the corporation’s articles of association. Also, the corporate governance has two main impacts both on global economic level by enhancing trust in the local economy as well as internally by achieving transparency and equity in the company management. In addition, the Organization for Economic Cooperation and Development and Governance (OECDG), sets up a range of principles that companies shall meet through their corporate governance such as the equity, the protection of the shareholders’ rights, the transparency and discolsure, the commitments of the executive board, the role of the parties connected to the company. In the same way, the executive board should set up three permanent committees which are the review committee, the awards committee and the in-house control committee. Also, we cannot imagine the corporate governanace without raising the key role of the financial auditor who must be appointed by the company to ensure transparency, not forgetting the provisions of the syrian securities commission Act on the good practices for the companies management that shall be fulfilled by publicly traded companies. The papers concludes with some suggestions to facilitate the application of the corporate goveranance such as the promulgation of a new text law governing the profession of auditors as well as the establishment of a National Council for Accounting and Auditing.
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