Corporate governance

1.

A framework that

(i) provides guidance on strategy, including assessing risk

(ii) ensures effective monitoring of management and

(iii) makes certain that managers are accountable to stakeholders.

The purpose of corporate governance is to facilitate effective, entrepreneurial and prudent management that can deliver the long-term success of the organisation.

2.

Comparable frameworks in non-commercial organisations.

In the non-commercial context the term 'governance' (without the 'corporate' part) is more common.

See also

• Board of directors
• Corporate social responsibility
• ESG investment
• Governance
• Kay Review
• UK Corporate Governance Code
• Ethics
• Agency risk
• Developments in corporate and market regulation: implications for the treasurer

Other links

Doing the right thing, Sarah Boyce, The Treasurer, May 2014