The Association of Certified Chartered Accountants (ACCA) will launch their ‘Corporate Governance and Risk Management Agenda’ at the House of Lords on 17 November 2008. Attendance at the event is by invitation only.
ACCA’s ‘Corporate Governance and Risk Management Agenda’ sets out ten principles for corporate governance and risk management which ACCA believes are fundamental to all systems of corporate governance that aspire to being the benchmark of good practice. They are intended to be relevant to all sectors, globally, including healthcare.
ACCA will also launch their discussion paper ‘Corporate Governance and the Credit Crunch’ at the 17 November House of Lords event.
Healthcare Governance Review readers can download a copy of the discussion paper ‘Corporate Governance and the Credit Crunch’ here. The paper contains, on pages 14 and 15, details of the principles of corporate governance and risk management contained in the forthcoming ACCA ‘Corporate Governance and Risk Management Agenda’.
The key principles are as follows (and further detail is provided in the above paper):
1. Boards, shareholders and stakeholders share a common understanding of the purpose and scope of corporate governance
2. Boards lead by example
3. Boards appropriately empower executive management and committees
4. Boards ensure their strategy actively considers both risk and reward over time
5. Boards are balanced
6. Executive remuneration promotes organisational performance and is transparent
7. The organisation’s risk management and control is objectively challenged, independently of line management
8. Boards account to shareholders and, where appropriate, other stakeholders for their stewardship
9. Shareholders and other significant stakeholders hold boards to account
10. Corporate governance evolves and improves over time
Following launch, the ‘Governance and Risk Management Agenda’ document will be available for download at http://www.accaglobal.com/governance