The research reviews a large corpus of literature on BRIC countries to investigate the relationship between corporate governance and business performance. The study's main goal is to compare corporate governance practices implemented by BRIC enterprises. The study addressed the issues that BRIC nations encountered while implementing corporate governance practices, as well as the causes for such challenges. According to the literature, company law, financial stability, competitiveness, business culture, and financial development are reasons for inconsistency in BRIC corporate governance practices. The underlying relationship between corporate governance and firm performance was found inconsistent as a result of continued development in corporate governance practices in BRIC nations which is endorsed from industrialized nations in order to attract external finance and to decrease the cost of capital.