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Chapter 3

Corporate governance

Outcome

At the end of this session you should be able to:

 describe corporate governance

 explain the interaction of corporate governance with business ethics and
company law

 explain the purpose, definition of the Organisation for Economic Co-operation
and Development (OECD) principles of Corporate Governance

 describe IFAC’s main drivers of sustainable corporate success

 illustrate CIMA’s practical proposals for better corporate governance

 distinguish between detailed rules-based and principles-based approaches to
governance

 describe the role of the board and different board structures

 explain the effects of corporate governance on directors’ powers and duties

 describe the types of policies and procedures that constitute ‘best practice’

 describe the respective committees and their roles and responsibilities with
regards monitoring and controlling the actions of the Executive

and answer questions relating to those areas.

The underpinning detail for this chapter in your Integrated Workbook can be
found in Chapter 3 of your Study Text.

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