As part of the society, companies are socially responsible to them. They owe their existence to a varied group of stakeholders which includes customers, employees, suppliers, Government, and the society at large. Thus the responsibilities are not merely limited to the shareholders, but relate to the entire group of stakeholders. One such duty is to ensure transparency and fairness in dealings with the public. Good corporate governance is based on accurate and honest financial reporting by the company and is hence fundamental in creating a successful organization (Gaa, 2009). The board is responsible for ensuring that relevant information pertaining to the financial performance of the company is transparent (Epstein & Roy, 2010). Besides adding economic value, companies should also focus on adding envrionmental and social value to their operating business environment.