Corporate governance: encouraging dialogue and participation

How we govern our corporations plays a central role in the strength and health of our global economy.

Today, there is a growing dialogue among the different stakeholders about corporate governance and how it should evolve to cope with the increasingly dynamic and global nature of our capital markets. This dialogue is taking place against a background of legislative and regulatory change; the implementation of International Financial Reporting Standards around much of the world; an increase in the scope of audit and other internal control and risk management activities; and increased public scrutiny.

It is only with dialogue and the active participation of all stakeholders that the appropriate balance can be reached between:

• strengthened central controls and fast local responsiveness;
• effective risk management and the enduring need for innovation;
• the additional costs of the new corporate governance and the value it seeks to protect and enhance.

New thinking on internal control

All businesses face common drivers for a better controls environment; the need to respond to external and internal stakeholders’ expectations, achieving improved governance whilst reducing the cost, and the need to improve business processes. Find out more about our new report, "From compliance to Ccompetitive edge" and the implications for corporate governance and the role of the audit committee.

Risk management and internal controls

Risk management and internal controls can create competitive advantage according to "The future of risk management and internal controls". It points out the many challenges of aligning and coordinating these roles and tasks — and provides questions you can apply to start the improvement process. If you missed the Thought Center Webcast “A balanced approach to risk and performance,” watch the archive in video format.