A Holistic Review of Governance–The Editor’s Review Series No. 1

Eli R. Khazzam | October 15, 2015 |

[The Editor’s Review series provides readers with a recap of previous articles, resources, and/or news featured on the IFAC Global Knowledge Gateway. The series is designed to focus on a particular subject area that has been covered by our team and contributors.]

Since its inception, the IFAC Global Knowledge Gateway has featured a number of articles covering various dimensions of governance in organizations. This article provides a recap of what has been published thus far to draw relevance between the role of the accountancy profession and good governance. Topics include audit quality, small- and medium-sized entities (SMEs), the role of the CFO on modern boards, value creation, and many aspects of the emerging field of integrated reporting and governance.

  • Governance for All—Including SMEs
    Rosana Mirkovic, Head of SME Policy, Association of Chartered Certified Accountants, asserts that good corporate governance is important for organizations of all sizes and some of the most significant gains are to be had by SMEs. By setting the framework for monitoring the actions and performance of management, it protects both the future of the business and the interests of its owners and investors.
  • The Role of the CFO on the Modern Board
    Gillian Lees, Head of Research and Development, Chartered Institute of Management Accountants, discusses four key areas that CFOs should address when conducting meetings with boards and explores the question: how can the CFO contribute to the effectiveness of these all-important conversations and board-level decision making? 
  • How Good Governance Can Resolve Bad Behavior
    Vincent Tophoff, Senior Technical Manager, IFAC, asserts that everyone in an organization, and management in particular, needs to identify and address bad behavior in a timely manner. Good governance arrangements can help. However, he stresses that a good place to start is usually individual communication—getting people to communicate with the person concerned, as he or she might not be aware how his or her behavior comes across or affects the working relationship.
  • Creating Value through Governance
    Paul Moxey, Head of Corporate Governance and Risk Management, Association of Chartered Certified Accountants, discusses the complex challenge of achieving good corporate governance. He stresses that it involves economics, politics, and fundamental aspects of human nature, as well as business and markets. Ultimately, governance is about good decision making. As providers of financial information to support better decision making, accountants play a key role.

Eli R. Khazzam

Senior Professional, Economic Development & Emerging Technologies.

Eli R. Khazzam is a senior professional focused on economic development & emerging technologies. Previously, Mr. Khazzam was the Editor-in-Chief of the IFAC Global Knowledge Gateway and had various roles working as a Governance Manager and Senior Technical Manager of Public Policy and Regulation at IFAC. Prior to joining IFAC, he was an Executive Director at Liquid Metrics, LLC., a research and consulting firm specializing in community-based economic development and public policy issues. See more by Eli R. Khazzam

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