A study on corporate failures and efforts for turnaround

Corporate failures are an inevitable reality in the business environment, placing a heavy burden of responsibility on leadership, accountants, and auditing bodies to uphold transparency and accountability. This study investigates the key factors contributing to corporate collapse and evaluates the strategic mechanisms necessary for business recovery. Focusing on financial reporting integrity, corporate governance breakdowns, and management accountability, the research highlights how poor risk assessment, internal accounting oversights, and delayed strategic responses trigger severe financial distress