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Institute takes the lead on enterprise governance.

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Vincent
PositionMoney-Laundering - Brief Article

CIMA is playing a key role in improving corporate performance by joining forces with the International Federation of Accountants to release a report on the emerging concept of enterprise governance, writes Tim Cooper.

Most analyses of recent business collapses have focused on the failure of corporate governance, but the theory of enterprise governance argues that regulatory conformance alone cannot make a business successful. This does not imply that corporate governance is unimportant for success--it's clear that bad corporate governance can ruin a company--but businesses must balance conformance with performance.

The performance dimension focuses on strategy and value creation, which does not lend itself to a regime of standards and auditing. Instead, it requires a range of best-practice techniques that can be applied intelligently within different types of organisation. Unlike the conformance dimension, this does not entail dedicated oversight mechanisms such as audit committees. The report argues that this...

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