“Corporate governance is not something that is put in place and then left. Ensuring its effectiveness depends on regular review, preferably regular independent review.“
Jim Jones, Business Day
A governance review may be broad-ranging and encompass a board assessment or it may be restricted in scope. High performing boards typically have general diagnostic by an independent reviewer as part of their ongoing performance improvement program. Some boards want the review to better align values, strategic direction, structure and modus operandi. Others are looking for an efficiency review, to find ways to make better use of the limited time available.
A governance review may be sought before making major changes, such as shifting from a management committee to a board. Or it can focus on one or more aspects such as the size, structure and composition of the board and its committees, frequency of board meetings, skills of board members, format of meetings, decision-making processes, the Board-CEO relationship, reports to the board, board documentation or time management.
A governance diagnostic may involve a questionnaire, meetings with Directors, discussions with senior executives, and desk research. After presenting our report, we arrange a working session with the full board to consider the findings and recommendations, and prepare a governance action plan.
If you are considering a review of your board or any aspect relating to governance, we are always available to talk with you about why you want a review, what you are seeking to achieve and the relative merits of different approaches.
While taking account of what has happened in the past, the main focus of our governance reviews is the future.
We aim to help Boards shift into the right space to take advantage of opportunities as they present themselves.