Framing the future of corporate governance - Deloitte governance framework | Brochure
For those interested in the topic of corporate governance, these are dynamic times. The events of the past decade have led to the publication of a mountain of articles and research reports focusing on different aspects of governance, such as the role of the board, executive compensation, strategic oversight, and so on. But the literature rarely considers the issues holistically, looking at the entirety of governance structures.
As a result, many boards of directors still struggle with several fundamental questions, including:
- What is the role of the board in the company’s corporate governance program, and how does that differ from the role of management?
- Where should we be spending the majority of our time?
- Compliance with laws and regulations is an important starting point, but how do we position the board as a strategic partner with management?
- Exactly what should we be doing in the critical areas of oversight such as strategy and risk?
- How does the work of the committees relate to and differ from the work of the full board?
Surveys and studies of directors continue to hint at the underlying frustration felt among boards. This frustration is also shared by many executives. Most appreciate that their board is under more intense scrutiny than ever before, but they struggle with providing the board with the information it needs to execute its fiduciary responsibilities while continuing to move the organisation forward. More than one CEO has asked us for help in finding the right balance, worried that their board may be suffering from "analysis paralysis."
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