As the CEO of a company there is nothing more rewarding than maximizing the wealth of your shareholders, as well as increasing the value of the company. However, this should not be done unethically and jeopardize the company's financial, social status and reputation, ultimately causing it to suffer. There are systems put in place to prevent such acts which are generally overseen by the organisation's board of directors. In most companies the board of directors is made up of shareholders or former employees of the company. Due to recent American corporate scandals, many companies have acted quickly by actually implementing rules and regulations. They are sometimes called codes of ethics. In this article I will discuss the importance of corporate governance and codes of ethics within a company. How has the recent crackdown changed American corporations? Has there been an improvement? Does top management gender impact firm performance? Can we determine whether independent directors influence the organization's social responsibility and corporate governance? I will try to address these issues in this article. Critical analysis/evaluation Corporate governance is defined as a system that has been established to direct and control the companies controlled by me (QFinance – The Ultimate Resource, 2009, para. 1.), the board of directors, which must comply with regulations and regulations in the implementation of this system. Their duties include defining the company's strategic objectives, leadership and reporting to the company's stakeholders (QFinance - The Ultimate Resource, 2009, para 1). Socially responsible companies are defined as companies... middle of the paper. .....SIBILITY AND CORPORATE GOVERNANCE. Economic Affairs, 29(4), 5-10. doi:10.1111/j.1468-0270.2009.01940.xLlopis, J., Reyes Gonzalez, M. M., & Gasco, J. L. (2007). Corporate governance and organizational culture: the role of ethical managers. International Journal of Disclosure and Governance, 4(2), 96-105. doi:10.1057/palgrave.jdg.2050051Kanji, G. K., & Chopra, P. K. (2010). Corporate social responsibility in a global economy. Total Quality Management and Business Excellence, 21(2), 119-143. doi:10.1080/14783360903549808Holder-Webb, L., & Sharma, D. S. (2010). The effect of governance on credit decisions and perceptions of reporting reliability. Behavioral Research in Accounting, 22(1), 1-20. doi:10.2308/bria.2010.22.1.1QFINANCE – The definitive resource, © 2009 Bloomsbury Information Ltd. - http://www.qfinance.com/dictionaryhttp://en.wikipedia.org/wiki/Ethical_code