Governance

Governance is the system by which organisations are directed and controlled, involving the allocation of rights and responsibilities across all constituencies including the Board, management, staff, shareholders and other stakeholders.

Governance provides the rules for decision making and accountability – setting levels and measurement of performance against objectives – the structure and compliance requirements, ranging from mandatory to discretionary.

The process by which performance against objectives and obligations is met, authority is delegated and monitored and controls over the creation, effectiveness and efficiency of organisation systems and structures is maintained.

Questions to ask in your business

  1. Is there a process for ensuring effective levels and distribution of Board competence and independence?
  2. Are there effective Board committees for compliance, ethics and risk?
  3. Are the Board processes clearly documented and have they been reviewed for effectiveness?
  4. Are there clear delegations to staff of their authority, responsibility, accountability and reporting obligations?
  5. Are people adequately trained to implement their delegations?
  6. Does your compliance system address performance against the delegations?
  7. Is there active cooperation and coordination between compliance, ethics and risk management to avoid duplication?
  8. Do you have an effective integrated software solution for managing and reporting compliance, ethics, governance and risk issues?

If you would like to implement an effective governance framework, then ACY Advisory can help!

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ACY Advisory acknowledges and respects the Traditional Custodians of country throughout Australia. We respect their knowledge and recognise their continued connections to land, sea and community. We pay our respect to their Elders past, present and emerging.