“Governance is still too often seen primarily as a compliance exercise rather than a means for driving the sustainable performance of an organisation”, said Roger Tabor, chair of the PAIB Committee. “Successful organisations have a governance structure and culture that go beyond conformance with regulations and support the organisation’s efforts to improve performance. Governance should be part of the DNA of an organisation.”
The new report illustrates that good governance is about more than the basic protection of stakeholders’ interests or compliance designed to satisfy regulatory requirements. Rather, integrating good governance throughout an organisation offers powerful support to the way sustainable value is created. The report addresses how professional accountants support their organisations to build good governance into the entire cycle of strategic planning, resource utilisation, value creation, accountability, and assurance. Such a holistic approach ensures that governance is integrated into all aspects of an organisation.
“Professional accountants are typically in a position of strategic or functional leadership or are otherwise well-placed to partner with colleagues in evaluating and improving governance”, said John Cahill, chair of the PAIB Committee’s Governance and Ethics Task Force. “This report usefully demonstrates how they can increase their organisations’ sustainable performance.”
Press release
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