What is Corporate Governance?
Corporate governance is essentially the composition of and relationships within an organization which help guide and establish its overall strategy and performance. Good governance is a vital component within a successful corporation and ultimately plays a pivotal role in the ability to maintain solid economic growth. It also enables the Board to make informed decisions.
The changing landscape of Corporate Governance
Corporate governance has become more complex in recent years owing to the fluctuating economic landscape, increased regulatory requirements and greater concerns around risk, which have created increased responsibilities and pressure for Boards.
New guidelines and regulations have originated from a variety of associations and governing bodies, including the US Federal Government, the International Corporate Governance Network (ICGN) and the Organization for Economic Co-operation and Development (OECD) and have resulted in new laws such as the Sarbanes-Oxley Act, Corporate Governance Principles and Codes, Stock Exchange listing standards, Principles of Corporate Governance and countless others.
The impact to corporate Boards
Leadership teams - Boards and executives alike - are under greater scrutiny than ever before. Better governance and risk oversight are demanded by both shareholders and regulators and they are looking to management to provide it.
In order to meet this challenge, organizations require Board tools, governance workflow and strategic analysis - and none alone is enough: they must be brought together and offered with top-notch global service and unparalleled security.