皇冠体育app

Corporate governance is the way in which organisations are directed and controlled. 聽Good corporate governance is vital to effective financial and risk management.

皇冠体育app corporate governance code draws on best practice in the public, private and charity sectors.聽 皇冠体育app code incorporates the protocol on enhanced departmental boards, which sets out government policy in this area.聽

Significant changes include the requirement for the Secretary of State to chair the departmental board and a board composition that enhances the role of non-executive board members bringing knowledge and 聽experience from senior positions in large and complex organisations outside government.

皇冠体育app code provides for a 鈥榗omply or explain鈥� approach, whereby a department can depart from the code鈥檚 provisions provided the reasons are explained in its annual governance statement accompanying the department鈥檚 accounts.聽 皇冠体育app guidance is optional and does not require compliance or explanation.

皇冠体育app principles outlined in the code will also prove useful for other parts of central government and they are encouraged to apply arrangements suitably adapted for their organisation.

皇冠体育app code and guidance are intended to be living documents and will evolve as practice develops.