The Effective Board
The Effective Board: Oversight and Management
Wording in the Corporate Governance Code and its Guidance can at times seem innocuous. But the FRC rarely uses words without intent. And sometimes the meaning or significance only becomes apparent when boards work out how to implement changes. We’re coming across a prime example emerging from last September’s change in Guidance on risk management and internal control (replacing “Turnbull”): the need for boards to consider “whether the leadership style and management structures, HR policies and rewards systems support or undermine the risk management and internal control systems”.
This includes looking at whether the “management group… has the necessary skills, experience, authority and support…” (Guidance page 6). This goes beyond conventional approaches to looking at the effectiveness of risk management.
Boards are now beginning to ask themselves whether they are doing enough to assess management structures – and who should be doing it
Helping you get it right
For us, good governance is about good performance.
Yes, compliance matters. But our work is about helping you make sure your organisation…is led effectively by a board that adds value…is kept under control through risk management and assurance frameworks that meet your needs…and is “doing the right thing”.Contact