Investors and regulators from across the globe have raised the bar in terms of corporate governance and internal control system. Establishing corporate governance in line with regulations and standards, designing an effective internal control and risk management system, and implementing it under proper supervision-- these are the vital steps that will elevate a corporation in the value chain and enable it to tap into the international capital markets and compete globally. "Regulatory" covers, among others, Deloitte's interpretation of corporate governance rules and regulations issued by different regional regulators, as well as guidelines for assessing the effectiveness of internal control systems for corporate financial reports or statements.