Answer to Question #79037 in Finance for Owen Marsden

Question

What is required for the board to provide effective governance

Answer 1

Any governance review will be unique to the organisation and will depend on factors such as the organisation’s ownership, legal structure, regulatory environment, culture and the outcomes sought in undertaking a review. As such, our approach is customised for each client’s needs. For example, areas of focus in a governance review may include:
o Determining if the governance system adds value or is a burden to the organisation;
o Addressing a specific issue of concern with the current governance structure such as the number or type of board committees;
o Alignment of the governance system with an existing or new strategic direction;
o Adoption of leading practice governance in terms of policies and procedures (documentation review);
o Compliance with national and international codes and standards.