Saward Dawson has significant involvement with many organisations both in the for-profit and not for profit sector. We believe our experience enables us to offer a unique insight into governance analysis which includes:
|Scoping of audit committee roles|
|Governance structure analysis|
|Internal control effectiveness reviews|
What is Corporate Governance?
Corporate governance can be defined an accountability mechanism put in place on management towards stakeholders and also as a manner in which trustees or directors provide oversight for entities.
Governance is focussed on how entities deliver their mission in the most appropriate manner within the boundaries of legal requirements, accountability towards stakeholders and other ethical considerations.
Obligations to effective corporate governance
Corporate governance is relevant for large listed entities and SME's in the for-profit and not for profit sector. As an entity grows in size and influence, the importance of effective corporate governance becomes even more prevalent.
The key elements of effective corporate governance framework can be divided into seven distinct sections.
|Board performance and effectiveness|
|Strategy planning and monitoring|
|Robust risk management and compliance|
|Effective and appropriate committee structure|
|Transperancy and disclosure|
|Corporate social ethics|
Not for profit entities
Currently not for profit entity governance requirements are determined by an entity's structure, code of conduct of a relevant peak body, sector requirements or government contracts. The Australian Charities and Not-for-profits Commission (ACNC) is currently in the process of implementing a single scheme applicable to all not for profit entities under its jurisdiction regardless of the entity structure chosen.
Due to these developments, there is an increasing pressure for not for profit entities to comply with the various governance requirements surrounding governance as part of their obligations.