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.

Among other concerns, corporate governance includes management structure, employee relations and executive and employee compensation.

2.

Comparable frameworks in non-commercial organisations.

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

See also

• Accountability
• Agency risk
• Audit committee
• Board of directors
• Board reserved powers
• Corporate social responsibility
• Developments in corporate and market regulation: implications for the treasurer
• ESG
• ESG investment
• Ethics
• Goal congruence
• Governance
• IFC Corporate Governance Methodology
• Kay Review
• Institute of Business Ethics
• Non-Executive Director
• Shareholder value
• Stakeholder governance
• UK Corporate Governance Code

Other resource

Doing the right thing, Sarah Boyce, The Treasurer