Perspectives
Framing the future of corporate governance
Explore Deloitte’s Governance Framework
As the business environment continues to evolve in complexity, so does the oversight role of boards. At the same time, investor, regulator, and other stakeholder expectations of board involvement in certain aspects of the business, including aspects traditionally within management’s sole purview, are changing in ways that may blur the lines of responsibility between the two.
Corporate governance at a glance
The Deloitte Governance Framework offers a comprehensive view of corporate governance and forms the basis for the tools (e.g., board assessments and establishing effective composition and structure) that help boards and executives quickly identify potential opportunities to improve both effectiveness and efficiency. Established over 20 years ago, the Framework is dynamic and has supported the work of boards over time, across all types of organizations and industries.
The elements within the Framework depict the delineation of management's duties from areas where board responsibility is typically heightened, the top half. 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-today activities of the company, as well as the processes, used to accumulate information and report it to the board and external stakeholders.
The importance of risk and culture oversight
In keeping with the tenets of the Deloitte Risk Intelligence methodologies, the oversight of risk and culture forms 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.
Four Framework attributes
Now let’s dive deeper. Think about each element of the Framework as a box. Inside the box are the things a board and management team would need to have in place to create an successful oversight program. This model aims to articulate both requirements and leading practices within four distinct areas, referred to as “attributes”—skills and knowledge, process, information, and behavior—which are necessary for effective board oversight of each of the board governance elements. Read the full PDF to learn more.
Get in touch
Christine Davine
Managing Partner,
Center for Board Effectiveness and
Vice Chair, Audit & Assurance Regulatory
Deloitte LLP
