Introduction Corporate governance has gained a lot of relevance in the modern society where firms are faced with stiff competition due to the open market policy that is practiced by many countries around the world. It means that firms must find ways of improving their service delivery in order to gain a competitive edge over their competitors. Brayley and McLean (2008, p. 56) define corporate governance as “A set of systems, principles and processes by which a company is governed.” In their definition, these scholars emphasize the fact that corporate governance involves principles and systems that helps in the management of a company. Thatcher (2008, p. 34) says, “Corporate governance provides the guidelines as to how the company can be directed or controlled in order to fulfill its goals and objectives in a manner that adds value to the company and that is also beneficial for all stakeholders in the long term.” In this context, it would be necessary to define the stakeholders involved in the corporate governance. Coleman and Anderson (2000, p. 68) say, “Stakeholders in this case would include everyone ranging from the board of directors, management, shareholders to customers, employees and the society.” This means that corporate governance seeks to address the objectives of the stakeholders identified above in a way that would lead to the overall development of a firm. Corporate governance in the United Kingdom has overemphasized on addressing the interests of stockholders, giving little or no consideration at all on the interest of other stakeholders (Bryans 2005, p. 76). This research is focused on analyzing corporate governance, and the relevance of its system in financial resource management in the United Kingdom. Critical Review of Corporate Governance Corporate governance has become a fundamental issue in management of companies, especially those that are categorized as medium or large companies. According to Kleynhans (2006, p. 23), there should be a standard set for good practice in reference to leadership offered by board of directors and its effectiveness, the remuneration of respective stakeholders, relations with other stakeholders, and accountability of the activities of the firm and its financial expenditures should be clearly outlined (Harrington 2006, p. 35). Corporate governance offers strategic leadership to a firm. It would always dictate how successful or unsuccessful a firm would be in the market based on the set strategies. The boards of directors always form the top most management organ of a firm. It always define the futuristic strategies that a firm must set in order to make it relevant in the market despite the changing environmental factors. As Nuberg and Reid (2009, p. 56) observe, corporate governance should not be considered as an arena where the interests of shareholders are protected. In the contrary, this should be considered as an opportunity offered to the leadership of a company to champion strategies that would lead to the overall success of a firm (Thoma 2001, p. 27). Restricting the focus of this board to protecting the interests of shareholders, may not only affect the overall performance of a firm, but also affects the same shareholders, especially wh