The Importance of Corporate Governance in Strengthening Control and Combating Corruption. A Case Study on Jordan Petroleum Refinery Company

The financial and administrative corruption phenomena are interesting to a lot of researchers. Those concerned agreed on the importance of developing an institutional framework intended to combat corruption in order to accelerate economic development. Researchers have reached a common understanding that “Corporate Governance” is one of the important mechanisms needed by all companies، for combating financial and administrative corruption و strengthening control، following up with the implementation of strategies، defining the roles of each of the (shareholders، board of directors، executive management، and stakeholders). In addition to its importance in assuring of transparency and disclosure of financial and non-financial information as well as enhancing the internal and external audit roles. The findings of this field study show that the “Corporate Governance System” is considered as the right tool to combat financial and administrative corruption، strengthen control، and solve conflicting problems for all parties and stakeholders in the Jordan Petroleum Refinery Company.