Corporate Governance

Why is it important to my business?

Governance systems need to be in place to apply high standards, taking into account the interests of stakeholders and to operate ethically, wherever business operations are in the world.

If implemented correctly, governance systems will enable legal obligations to be met, to positively promote the company to stakeholders, and to influence culture in an ethical manner. Board governance is a crucial component in carrying out an effective strategy. As the board is at the forefront of control, they are trusted by stakeholders to lead and to uphold the reputation of the organisation.

The board also holds significant influence over and responsibility for the culture of an organisation. Serious criminal and civil prosecutions and penalties can apply for directors who breach their obligations. The penalties can include fines, incarceration, and disqualification from acting as a director. In certain circumstances, directors may be required to compensate a corporation.