Corporate governance is the system by which an organisation is directed and controlled. The cornerstones of good corporate governance are ethical behaviour, accountability, transparency and openness. Senior executives need to ensure that they are confident that the organisation’s corporate governance framework is robust and underpinned by these values.
A robust system of governance is vital for all organisations to enable them to operate effectively and ensure senior management discharge their responsibilities in an open and transparent manner. This is evidenced by recent high profile corporate failures.
The requirement for good Corporate Governance is mandatory within the public sector, in accordance with the Code of Practice for the Governance of State Bodies and the Mullarkey Report. Similarly, in the private sector, there has been an increasing emphasis on the need for robust corporate governance structures. The Higgs Report (2003) undertook a review of the effectiveness of non-executive directors and the Smith Report (2003) addressed the role of Internal Audit. Both were later incorporated into a revised Combined Code.
Our team provides a service undertaken by our professionals who have a wealth of experience of governance structures. We can assess your organisations governance processes, compare them to best practice and ensure they meet the needs of your organistation.
The Service You Deserve
- Provide guidance to help you understand your corporate governance responsibilities.
- Provide guidance on ensuring governance systems and structures match and compliment your organisation.
- Benchmark your organisation’s corporate governance structure to best practice so that improvements can be recommended and made.
- Review the terms of reference of the Board and Sub Committees to ensure they are adequate and cover the respective roles and responsibilities.
- Provide assurance to your Board, Audit Committee and Senior Management on overall compliance with the principles of sound governance.
- Provide prompt notification of developments within the regulatory framework which could potentially affect your organisation.
- Provide guidance in relation to the Code of Practice for the Governance of State Bodies and the Combined Code.