Corporate governance refers to the system of rules, practices and processes by which a company is directed and controlled. Corporate governance essentially involves balancing the interests of the stakeholders, such as shareholders, management, customers, suppliers, financiers, government and the community.
The purpose of corporate governance is to facilitate effective and efficient management that can insure sustainability and the long-term success of the company.
Corporate governance is important because it instils policies and rules for maintaining the cohesiveness of an organisation. Corporate governance holds a company accountable while assisting it to steer clear of financial, legal and ethical pitfalls.
Does your organisation have the following Charters in place and are they up to date?
- Code of Conduct
- Remuneration Committee
- Social & Ethics Committee
- Audit Committee
- Risk committee
- Board of Directors
Are the following Policies in place?
- Gifts & Sponsorships
- Retention of Documents
- Competition Compliance Policy
- Access to Information
- Anti-Bribery and Corruption
- Social Media Policy
- Information Technology Policies
- Human Resources Policies/li>
- Quality Policies
- Environmental Policies
- Risk and Insurance Policies
- Transformation Policies
These are to name but a few of the possible charters and policies your organisation might need.
Do you have procedure manuals that will govern the way policies are put into practice, as well as controls to ensure this is done effectively?
Contact us and we will assist in identifying these policies as well as action controls to be put in place for sustainability to be ensured.