Business Solutions / Governance
According to Investopedia:
“Corporate governance is the structure of rules, practices, and processes used to direct and manage a company.
A company’s corporate governance is important to investors since it shows a company’s direction and business integrity. Good corporate governance helps companies build trust with investors and the community. As a result, corporate governance helps promote financial viability by creating a long-term investment opportunity for market participants.”
The concept of governance applies equally to private and public companies, where the various stakeholders derive greater confidence in the management of a company by the way the board leadership and operational functions interact.
Real Time Law adapts suitable agreements, policies and procedures to promote sound corporate governance for companies.
The governance structure may include a shareholders agreement for a private company, along with a delegations schedule approved by shareholders permitting the senior management and the board to make decisions at various materiality levels, with larger amounts and more significant decisions requiring a greater level of approval from senior management, the board and the shareholders. In addition, there may be employee manuals and a variety of policies and procedures on workplace health and safety, privacy, hiring and non-discrimination, internet usage and other areas requiring more comprehensive recording of responsibilities and promoting a culture of compliance throughout a company.
For public companies or large not for profit organisations a more comprehensive set of policies and procedures may be adopted at various levels of an organisation to imbed key principles and to set a strong culture of performance, accountability and compliance.
Real Time Law has advising small private companies, not for profit organisations and large ASX listed companies with sophisticated systems and processes on establishing and maintaining governance structures.
If you require a greater level of accountability and reporting between various parts of your company or business then Real Time Law can tailor an appropriate governance structure.