CG – science, craft or art?
‘Governance is about the quality of management supervision, ensuring that the company is managed in the interest of shareholders and other stakeholders. Compliance is about adherence to rules and regulations which are a necessary, but not a sufficient, condition for good governance. Used in the context of a football game, governance describes the quality of the game, while compliance ensures playing by the rules.’
Changing requirements and the future of CG
‘The structures, memberships and practices of boards may need to change to ensure that they remain relevant and can continue to discharge their responsibilities, including providing the responsible, shared and transformational leadership required to cope with a changing and uncertain business environment.’