Governance Implementation Evaluation
As an operating body, the board must successfully execute four major activities:
- Verification and validation of oversight mechanism operating design by area, e.g. external audit, internal audit, senior management, and independent advisors
- Assessment of results by those areas
- Evaluations of performance by those areas
- Self-inspection of the board in terms of its own design, execution, and responsiveness
The quality of the information that is presented to the board will vary by wide margins. Spotting red flags that indicate lapses in that quality is the key to success. And knowing what supplemental information to request after governance and internal control lapses are identified is critical to minimizing future economic, reputation, and market value losses.
With a lasting framework of operation for the board, we can assist your efforts to successfully govern the organization. And you will know that all disclosures that should be made are made, and that the control culture has been appropriately developed, assessed, and utilized.