Corporate Governance is about having the right people, structures, controls and processes in place to achieve the objectives of the company.
An appropriate system of corporate governance will include the following elements:
- A clear understanding of the objectives of the company
- A Board of directors with the right mix of skills and experience to achieve those objectives
- Structures and processes that support the achievement of the company’s objectives
Much has been written in support of a one size fits all set of structures and processes, but this is the third and least important element to corporate governance.
What is right for you will also be affected by the expectations of your shareholders. They will be informed by the QCA’s Corporate Governance Code for Small and Mid-sized Quoted Companies (which we can supply copies of) and the FRC’s UK Corporate Governance Code.
The Board has ultimate responsibility for Corporate Governance and the Chairman, as the person responsible for the running of the Board, has a pivotal role in ensuring that high standards of Corporate Governance are maintained.
City Group works with its clients to develop a corporate governance structure which will meet the expectations and requirements of investors and regulators, improve Board effectiveness and add value. City Group can also carry out an annual Corporate Governance Review which will provide the Board with an effective means of monitoring how well it is meeting its own Corporate Governance standards.