A decade ago, the term 'corporate governance' was barely heard. Today, like climate change and private equity, corporate governance is a staple of everyday business language and capital markets are better for it. Corporate governance is, "the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled in corporations." It encompasses the mechanisms by which companies, and those in control, are held to account. Corporate governance influences how the objectives of the company are set and achieved, how risk is monitored and assessed, and how performance is optimised. Effective corporate governance structures encourage companies to create value, through entrepreneurialism, innovation, development and exploration, and provide accountability and control systems commensurate with the risks involved.

Forward to ASX Corporate Governance Best Practice Recommendations

MindRisk Matrix
  • Policies,
    Procedures and
    Guidelines
  • Risk
    Management
  • Performance
    Management
  • Information
    Systems
  • Reporting
  • Corporate
    Governance
  • Investigative
    Forensics
  • Business
    Continuity
  • Risk
    Management
  • Does your CRO
    report to the Board?
  • Process Risks and
    Controls
  • Information
    Security Risks
  • Key Risk Indicators,
    Financial Statement Risks
  • Compliance Risk
  • Anti-Fraud measures
  • BCP Coordination Risk
  • Performance
    Management
  • Operational Risks
  • Do you have a
    Strategic Scorecard?
  • Business strategy aligned with IT Strategy
  • Rolling Forecasts
  • Governance Committees
  • Anti Money Laundering &
    Terrorism Financing
  • Offsite Arrangements &
    Call Trees
  • Information
    Systems
  • IT General Controls and
    Application Controls
  • IT as Business enabler
  • Does your Board understand IT Strategy?
  • Capitalisation of IT projects spent
  • Privacy
  • Detective controls
  • Minimum Acceptabe Outage (MAO)
  • Reporting
  • Dashboards
  • Financial, Management and Regulatory Reporting
  • IT spent and
    benefit realisation
  • Financial report reconciles with Management report?
  • Disclosure
  • Reputational
    damage
  • Criticality Assessment
  • Corporate
    Governanc
    e
  • Risk and Audit Committee
  • Board Composition
  • Board and the CIO
  • Internal and External Auditing
  • Is your organisation aligned with best practices?
  • Whistleblower protection
  •  
  • Investigative
    Forensics
  • Internal & External Fraud
  • Segregation of Duties
  • Access Controls
  • Provisions and
    Contingencies
  •  
  • Organisation capable to coordinate with local Police?
  • Penal Provisions and
    Prosecutions
  • Business
    Continuity
  • Critical Response
  • Succession
    Planning
  • Data Recovery
  • Impact Analysis
  • Incident Management Team
  • Regulatory Penalties
  • Do you have a drilled Business Continuation Plan?
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