We use cookies to make this site as useful as possible. Read our cookie policy or ignore.

All about connection

16 May 2017 by Henry Ker

All about connection - read more

Governance can reunite business with its disenfranchised stakeholders

Governance and Compliance May 2017

The BEIS Select Committee report on corporate governance appeared just as the April issue was going to press. This month we tackle the report’s contents; I spoke to former MP Iain Wright, who chaired the Select Committee, and got his views on the recommendations. Mr Wright explains that ‘the current failure of corporate governance is essentially a disconnect of the system’. Although it is not a cure for all of the corporate world’s ailments, what governance can do is reunite business with its disenfranchised employees, shareholders, and the public in general. You can read the full interview, 'Governance must evolve'.

Elsewhere, ICSA’s Peter Swabey ranks the inquiry’s recommendations in his article 'Red, amber and green'. Although we may have just moved into a regulatory limbo as the impending snap election in June curtails any likelihood of immediate action by the Government, the Select Committee’s report is still a major piece of work and we continue to welcome parliamentary focus on this most important of subjects.

The attention from the powers-that-be on governance does not mean the system is broken. The UK has one of the strongest corporate governance frameworks in the world – but the challenge is to keep it that way. As Mr Wright explains: ‘It is a strength of the UK economy that we can build on the successes of an effective corporate governance system to evolve with the requirements of the future. One of the reasons to do business in this country is that shareholders and stakeholders in general recognise that the UK is still the number one for corporate governance.’

ICSA’s Annual Conference is taking place on 4–5 July. Throughout the magazine we feature several articles by speakers from this year’s conference to give you a taste of what to expect. Lord Owen tackles the issue of hubris in 'The danger of runaway leadership'; Dr Peter Crow reconceives the role of the board at the centre of strategic operation with 'The strategic board'; and Aidan Kearney gives an insight into the human mind and controlling our ‘inner chimp’ in 'Manage the chimp'. The conference promises to be a spectacular event and I hope to see many of you there.

Henry Ker is Editor of Governance and Compliance


Change Ahead

29 July 2020

The Chartered Governance Institute has undergone significant change over the last three years. Read more...

Breathing Space

24 July 2020

The Corporate Insolvency and Governance Act has made the biggest reforms to the UK’s insolvency framework for almost 20 years, as well as some significant changes to corporate governance law. Read more...

Interview: Chuka Umunna

24 July 2020

Chuka Umunna talks to Governance and Compliance about his new roles focussed on environmental, social and governance (ESG) issues and the need for responsible investing. Read more...

Read more

Crisis Plans

30 June 2020

The continued spread of COVID-19 has upended everyday life and business operations across the globe. Read more...

Read more

Agility, Data and Digital

29 June 2020

The Chartered Governance Institute has partnered with Diligent Corporation on a series of papers looking at Building Board Resilience. Read more...

Read more

Interview: Dr Ian Peters MBE

22 May 2020

Dr Ian Peters MBE, has been appointed as the new Director of the Institute of Business Ethics. He talks to Governance and Compliance about his career to date and the role of business in society. Read more...

Piece of the Pie

09 April 2020

Employee share plans can increase organisational performance and employee retention. Read more...

Forward Thinking

09 April 2020

Good governance practices will benefit a charity by bringing an understanding of the risks and opportunities that they face, both now and in the future. Read more...

Have your say

comments powered by Disqus