The Basel Committee's document, Principles for enhancing corporate governance, sets out best practices for banking organisations. Mr Nout Wellink, Chairman of the Basel Committee and President of the Netherlands Bank, stated that "the crisis has highlighted the critical importance of sound corporate governance for banking organisations. Careful implementation of these principles by banks, along with rigorous supervisory review and follow-up, will enhance bank safety and soundness as well as the stability of the financial system".Principles for enhancing corporate governance issued by Basel Committee - Press release on 16 March 2010

Based on the above statement:

(a) Critically discuss any five roles of the board of directors, as the central player, in promoting and enhancing good governance around which businesses are expected to operate. [10 Marks]

(b) Elaborate on the roles played by the government in ensuring effective corporate governance of organisations. [10 Marks]

(c) List and explain, with appropriate examples, five roles of the media in promoting corporate governance. [10 Marks]