Corporate Governance in the Time of COVID-19, a Suggested Model for Governance in the Time of Turbulence

Purpose – The purpose of this paper is to analyze the effect of the pandemic (COVID-19) on business corporate governance and internal control generally. Also, this paper attempts to develop a new corporate governance model that flexibly addresses conditions like those brought by COVID-19 into the business environment. Design/methodology/approach – Thirteen semi-structured interviews have been conducted with Chairpersons, CEOs, and Directors from companies listed on FTSE 350. Findings - The paper has provided insightful information that participates towards developing a new and flexible corporate governance model that can address economic and non-economic consequences resulting from COVID-19 that leads to major disruption for businesses and society. Originality/value – This paper presents an original contribution to accounting literature relating to corporate governance and internal control systems and how it can optimally operate under uncontrollable conditions resulting from pandemics, and similar situations.