Why does corporate governance matter?
Your Firm’s ability to demonstrate a robust corporate governance framework to promote the sound and prudent management and oversight of your business is crucial to meet regulatory expectations, mitigate risk, protect the interests of your customers and stakeholders, and contribute to long-term sustainable growth for your business.
Good corporate governance can promote long-term sustainable growth
Weak corporate governance arrangements that do not safeguard firms against excessive risk taking have been cited by regulators as being at the heart of losses incurred in the financial services industry. These shortcomings highlighted the need for corporate governance regulatory reform to promote long-term sustainable growth, including:
- strengthening board oversight of management
- positioning risk management as a key board responsibility
- encouraging sound remuneration practices that balance risk and long-term performance criteria
How can we help you?
Good corporate governance sets the tone of how an organisation operates. CCL and its experienced team have the comprehensive expert knowledge to provide practical, tailored corporate governance solutions.
Board competency reviews
Your board is regarded by regulators as fundamental in ensuring a culture that supports sound and prudent management. Consequently, your board should expect greater levels of regulatory scrutiny going forward. We can assist you by performing reviews designed to assess whether:
- your board has the right composition (given the nature and scale of the business)
- board members have the requisite knowledge and expertise
- the time commitment of board members is appropriate
- your board has adequate powers and resources to discharge its duties
- management information available to the board is appropriate
- board minutes and other documentation evidence effective decision making
Corporate governance systems and controls
Your board needs effective governance systems and controls to discharge its responsibilities in an appropriate and timely manner. We can assist you to design, implement and monitor your governance systems and controls by:
- conducting corporate governance gap analysis
- advising on board and committee structure, membership, conduct, operations and performance
- tailoring board and committee terms of reference
- tailoring corporate governance policies and procedures that promote effective and prudent management and oversight
- tailoring remuneration policies and procedures that ensure sound and effective risk management
- defining relationships and mapping responsibilities between the board and senior managers to evaluate apportionment, identify conflicts and determine areas where competencies can be enhanced
- evaluating the adequacy of management information and reporting frequency
- providing corporate governance training to the board and senior managers
- providing company secretarial services
What should you do now?
Let us help you to improve your corporate governance. For straightforward, practical guidance to design or enhance your corporate governance framework, contact our experienced team today.