ABSTRACT
The OECD defines corporate governance in its Principles of Corporate Governance, as: corporate governance involves a set of relationships between a company’s management, its board, its shareholders and other stakeholders. The public sector shares many of the same challenges as the private sector and so adopts many of the same principles of corporate governance. Decisions are a vital aspect of governance, but if governance is concerned solely with decision making, that could lead to the right decisions being implemented in an illegal or unethical way. ‘Governance’ is an important word and one which can make our business and public sector leaders prick up their ears. Sarbanes-Oxley is implemented in many organizations as a process, relying on the right controls being in place and the right signatures being collected to confirm that business leaders are taking their accountabilities seriously. Standard processes and methods dictate or advise how to undertake certain activities.
