Enterprise Governance
Enterprise Governance
Enterprise Governance involves both corporate governance and the business managements inside an organization. There are huge challenges and opportunities under enterprise governance that it actually links with the performance of good corporate governance that move the business forward. Enterprise governance considers the big picture that guides good management to align with good strategic goals, more about achievement at the end.
Same as corporate governance, enterprise governance has various definition but all are merely the same.
The figure above illustrates enterprise governance. The two dimension of enterprise governance are the conformance and performance. The conformance tells the accountability and assurance story of the corporate while performance put emphasis on value creation and resource utilization. However, both conformance and performance can sometime feed towards the cross dimensions. So the conformance is about logic and analysis functions where the performance is about universe and creative.
(CIMA and IFAC 2012)
Conformance
The conformance for enterprise governance is watched in recent years due to several corporate scandal issues. Conformance is also can be understood as corporate governance (refer to Appendix 3: Corporate Governance). It mainly covers the following issues as according to CIMA. * the roles of the chairman and CEO * non-executive directors * audit committee * remuneration committee * risk management * internal audit
Codes and standards are generally the literatures that continue to develop in these areas, subject to a better assurance. It involves the role of professional accountant within the business that is meant to control and ensure the highest accountability where internal audit assist in assurance of the control of accounts to enhance effectiveness. External audit always gives a clearer pictures to shareholders, providing a true and accurate financial statement and
Enterprise Governance involves both corporate governance and the business managements inside an organization. There are huge challenges and opportunities under enterprise governance that it actually links with the performance of good corporate governance that move the business forward. Enterprise governance considers the big picture that guides good management to align with good strategic goals, more about achievement at the end.
Same as corporate governance, enterprise governance has various definition but all are merely the same.
The figure above illustrates enterprise governance. The two dimension of enterprise governance are the conformance and performance. The conformance tells the accountability and assurance story of the corporate while performance put emphasis on value creation and resource utilization. However, both conformance and performance can sometime feed towards the cross dimensions. So the conformance is about logic and analysis functions where the performance is about universe and creative.
(CIMA and IFAC 2012)
Conformance
The conformance for enterprise governance is watched in recent years due to several corporate scandal issues. Conformance is also can be understood as corporate governance (refer to Appendix 3: Corporate Governance). It mainly covers the following issues as according to CIMA. * the roles of the chairman and CEO * non-executive directors * audit committee * remuneration committee * risk management * internal audit
Codes and standards are generally the literatures that continue to develop in these areas, subject to a better assurance. It involves the role of professional accountant within the business that is meant to control and ensure the highest accountability where internal audit assist in assurance of the control of accounts to enhance effectiveness. External audit always gives a clearer pictures to shareholders, providing a true and accurate financial statement and
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