Corporate governance is a concept that involves practices of organizational management and control. It involves balancing the interests of people who provide resources to the company and contribute to its performance such as the shareholders, creditors, employees and suppliers. Studies have shown that companies that have adopted the concept of corporate governance tend to display great performance. Thus, corporate governance is increasingly being recognized as one of the important aspect of ensuring effective and efficient corporate development.This paper examines the general recognition of the Code of Corporate Governance in Ghana by considering the level of compliance and the factors that affect compliance. This paper will reflect on the provisions of the Code which are more or less complied with, the causes of non-compliance with the code and some ways of enhancing effective corporate governance in Ghana.The standards for corporate governance in Ghana are regulated by the Listing Regulations 1990 (L.I 1,509) of Ghana Stock Exchange (GSE), the Security Industry Laws 1993 (PNDCL 333) as amended by the Securities Industry Act, 2000 (Act 590) and the Companies Code 1963 (Act 179). These statutes provides shareholders' rights and regulatory framework for operations of corporate organizations in corporate governance practices. Some companies have adopted the principles of corporate governance which is based on transparency, accountability, fairness, legality and integrity. Also, a few companies have made their Annual Reports comprehensive enough to attract various stakeholders.Corporate governance is an essential part of business management and as such, management should be encouraged to comply with the code of corporate governance for the benefit of the organization at large.