www.boardroomdirect.blog/the-most-useful-checklist-for-board-meetings
The term corporate governance encompasses the structures, customs, policies and procedures that influence the way that people direct, manage and supervise a company. Typically, this means creating a long-term vision of the company, establishing and documenting procedures that help to achieve it, and regularly reviewing the performance of the business and assessing the needs of all stakeholders. Corporate governance should be based on the principles of accountability and transparency.
This requires that an organization disclose all pertinent information including financial results, meeting outcomes and minutes, any changes to normal operations or the resignation and replacement of key board members and management. This encourages honesty, integrity and a willingness to share both good and negative news with staff, shareholders and vendors, as well as the community and other stakeholders.
The primary function of the company’s board is to implement an established system of checks and balances that ensures shareholders are treated fairly and that decisions made by management are sound. This involves ensuring that internal controls are effective to ensure compliance with laws and regulations.
Different models of corporate governance exist all over the world. The most popular is the Anglo-American model which is based on the needs of shareholders in the management and decision-making process. This approach is widely adopted by businesses across a variety of countries However, there are different governance models that exist. These models are all alike and have the same fundamental principles however they differ.