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Framing the future of corporate governance
Deloitte Governance Framework
For those interested in the topic of corporate governance, these are dynamic times. The events of the past decade have led to the publication of a mountain of articles and research reports focusing on different aspects of governance, such as the role of the board, executive compensation, strategic oversight, and so on. However, many boards of directors still struggle with several fundamental questions, including: What is the role of the board in the company’s corporate governance program? Exactly what should we be doing in the critical areas of oversight such as strategy and risk?
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An end-to-end view of corporate governance
Designed to ease this frustration, the Deloitte Governance Framework offers an end-to-end view of corporate governance and forms the basis for the tools that help boards and executives quickly identify potential opportunities to improve both effectiveness and efficiency.
Underlying all the elements of the framework is the corporate governance infrastructure. Governance infrastructure is the aggregation of governance operating models—the people, processes, and technologies—that executive management has put in place to govern the day-to-day activities of the company, as well as the processes, used to accumulate information and report it to the board and external stakeholders. The top half of the framework highlights areas of the governance system where the responsibility of the board is typically heightened.
At the core: Oversight of risk and culture
In keeping with the tenets of the Deloitte Risk Intelligence methodologies, the oversight of risk and culture form the core of the framework. Risk Intelligence is at the center of an effective framework for corporate governance—and it lays the foundation for everything the board and management do to properly govern the organization.