Explain the corporate governance system.

You should include at least two peer reviewed sources. The corporate governance system continues to evolve. After the very visible governance failures in the early 2000s, national focus was placed on this issue. The U.S. government passed new laws regarding auditing, board of directors’ composition, and executive behavior. Directors also began to change the form of executive incentive compensation. Some believe the changes went too far and have placed a costly burden on public corporations. Others believe that some new laws did not go far enough to rein in the extreme levels of executive compensation. For information on this ongoing debate, research articles online. Take a position on this topic for your paper.