Ruth Keating and Rebecca Keating took first and second prize at a prize-giving ceremony in London on 25 February 2016 to celebrate ICSA’s inaugural essay-writing competition.
The competition, which was launched in memory of Tom Morrison FCIS, an active member and past president of ICSA, encourages new thinking and recognises original approaches to governance. Essays demonstrating an original perspective were sought on the following topic:
‘Does good governance require a fresh approach?’
Ruth Keating took the top prize for her essay which looks at modern examples of failed corporate governance and proposes the need for dissenters and whistle-blowers in order to keep governance on track. Ruth concludes that the answer to good governance does not necessarily lie in writing a new code: “The problem has never really been what has been put into writing, the problem has been what has (or indeed has not) been put into practice.” “Corporate governance can do better, and with significant investment, capital and jobs on the line, it must… governance has become a formality to be satisfied rather than something which can be hugely valuable. This approach would not be new, so much as governance as it should be.”
An excerpt of her essay was published in the Governance and Compliance magazine, the UK’s leading magazine on the latest developments in governance and compliance. See here.
Rebecca Keating was a worthy runner up with an essay concentrating on specific security concerns for good governance in the cyber age. She argued that a 21st century approach to good governance will not be achieved by a handful of key stakeholders, but will be won by a more inclusive approach seeking a collective plan of response. “It needs to be a topic where every player in a company feels like they are the custodians rather than a handful of IT staff. To do so requires leadership. This starts at the very top but what is most critical is that the end user feels empowered and educated in how best to protect the business.”