EXPLORING THE INTERRELATIONSHIP BETWEEN CORPORATE GOVERNANCE, FINANCIAL TRANSPARENCY, AND STAKEHOLDER TRUST IN ACCOUNTING PRACTICES

Abstract This study investigates the interrelationship between corporate governance, financial transparency, and stakeholder trust in accounting practices. Corporate governance encompasses the structures and processes that ensure effective oversight and accountability within organizations, while financial transparency refers to the clarity and completeness of financial disclosures. Stakeholder trust, a critical element for organizational success, is influenced by both governance and transparency. This research employs a qualitative approach, utilizing semi-structured interviews with financial experts, analysis of regulatory guidelines, and case studies of recent financial scandals to explore how these factors interact and impact each other. The findings reveal that robust corporate governance mechanisms, such as independent audits and strong board oversight, significantly enhance financial transparency. Transparent financial reporting reduces information asymmetry and fosters greater trust among stakeholders, including investors, regulators, and the public. The study also identifies that effective governance practices not only improve transparency but also contribute to stronger stakeholder relationships. The synergy between governance and transparency is crucial for maintaining financial integrity and supporting informed decision-making. Based on these insights, the study provides recommendations for strengthening governance frameworks and enhancing reporting practices to build and sustain stakeholder trust. This research contributes to the understanding of how corporate governance and financial transparency jointly influence stakeholder trust, offering valuable insights for policymakers, regulators, and organizational leaders seeking to improve financial practices and reporting quality.