Governance Flashcards
1
Q
What is Governance?
A
A system that provides a framework for managing organisations. It identifies who makes decisions, who has the authority to act and who is accountable for the business and employees’ behaviour and performance.
2
Q
What are the 3 types of Governance?
A
Corporate Governance
Financial Governance
Legal Governance
3
Q
What is Corporate Governance?
A
The board of directors, appointed by the shareholders, that are responsible for the governance of the business.
4
Q
What is Financial Governance?
A
This focuses on how the business collects, manages and controls financial information.
5
Q
What is Legal Governance?
A
Ensures a business complies with necessary legislation and regulation.
