Good corporate governance makes good business sense

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Presentation transcript:

Good corporate governance makes good business sense Steve Hill Chartered Director, Managing Director at Systems Engineering and Assessment Ltd. Bristol Is your board fit for business? Wednesday 22 May 2013 100 Victoria Street Bristol

What is Corporate Governance? “Corporate Governance is about how companies are directed & controlled” Increasing focus since problems in 90’s The Board – must ensure the interests of shareholders and stakeholders are fulfilled by the organisation Leadership Monitoring & Control Senior executives Audit

Leadership The board must: Ensure the business has a realistic and clear strategy Has a business plan which describes how the strategy will be delivered Has budgets which will enable the success of the strategy to be measured

Monitoring and Control The board must: Ensure the business has a process for measuring its performance Review the business performance Business Plan Budgets Customer feedback Ensure corrective action is taken were required Challenge effectiveness of measures

Senior Executives The board must: Select, set the compensation off and monitor all key executives Align remuneration of the senior executives with the interest of the company and shareholders

Audit The board must: Ensure the financial integrity of the businesses financial reports Ensure that delegations are followed Ensure business complies with legal obligations

Is your board fit for business? Wednesday 22 May 2013 100 Victoria Street Bristol