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Why Governance and Controls

  • Establishing clear direction and accountability
  • Managing risks and ensuring compliance
  • Building trust and confidence
  • Enhancing efficiency and effectiveness
  • Supporting long-term sustainability
1. What is Governance
  • Governance refers to the processes, systems, and structures through which organizations or entities are directed and controlled.
  • Governance encompasses the Standard of Operations (SOPs) Policies and Procedures, Practices and Relationships that define how organisations or entities make Decisions
  • Governance is how organisations and entities could be held Accountable and how organisation or entity Resources should be Managed by ALL Employees
  • Governance outlines the Policy Framework of the organisation or entity
  • Governance states clearly Who has the Authority to act on behalf of the organization or entity
  • Governance iterates on Who should ensure the organisation or entity takes Accountability and Responsibility and How the organisation or entity is directed and controlled.

Decision-Making Processes

Governance defines how decisions are made, who participates in the decision-making process, and how those decisions are implemented.

Accountability

Governance establishes mechanisms to ensure that employer and the employee are held Accountable and Responsible for their actions and decisions.

Oversight and Control

Governance provides frameworks for monitoring and controlling organizations or entities activities, ensuring alignment with its goals and objectives.

Ethics and Compliance

Governance includes ethical considerations and compliance with relevant laws and regulations.

a).  Corporate Governance
Is a system by which organisations or entities are directed and controlled, including the roles and responsibilities of the Board of directors, Executive management (EXCO) and Shareholders.

 

b). Public Governance
Encompasses the processes and institutions through which governments manage public affairs, including policy making, resource allocation, and service delivery.

c). International Governance
Involves the patterns of rule and cooperation among nations, often involving international organizations.

  • Effective Operations
    Good governance ensures that organization or entity operates efficiently and effectively.
  • Risk Management
    Governance frameworks help to identify, assess, and mitigate potential risks.
  • Stakeholder Confidence
    Strong governance builds trust and confidence among stakeholders, including investors, customers, and employees.
  • Sustainability
    Governance practices contribute to long-term sustainability by promoting responsible resource management and ethical behaviour.
  • King I (1994)
    Focused on effective Leadership, Sustainability, and Good Corporate Citizenship.
  • King II (2002)
    Expanded on the Principles of King I, with a greater emphasis on Risk Management and integrated reporting.
  • King III (2009)
    Introduced the concept of Integrated Reporting and Sustainability, emphasizing the impact of business on Society and the Environment.
  • King IV (2016)
    The latest version, replacing King III, with a GREA focus on outcomes-based Reporting and Stakeholder inclusivity, especially the Leadership and EXCO/ Sub-committee of the Co-operative.
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