DUBLIN, Ireland, December 9, 2014 /PRNewswire/ --
- Governance failures were at the heart of the Irish banking crisis says author of A Practical Guide to Corporate Governance
A new guide on corporate governance demystifies governance and sets out the basic standards that should apply to state organisations, banks, businesses, charities, and even the local football club, if they want to be well run, effective organisations that protect the interests of their shareholders and stakeholders and those that they serve.
Commenting at the launch of A Practical Guide to Corporate Governance, author and adviser, David W. Duffy FCA said:
"Good governance is the cornerstone of effective organisations. Governance failures have also caused the demise of organisations and destroy reputations. Reports on the banking crisis in Ireland identified weak governance as one of the key 'home-made factors' that contributed to the crisis. However, governance failures have not just been limited to banks. Many other organisations including representative bodies, non-profit organisations and State agencies, in a range of sectors, have been damaged by failures or the complete absence of a governance culture and structures."
Pat Costello, CEO of Chartered Accountants Ireland, said: "Chartered Accountants Ireland, now one of the country's leading professional and business publishers, is delighted to have published this new guide to corporate governance. The author, David W. Duffy, a Chartered Accountant, has performed a great job in making this important subject accessible and I would thoroughly recommend it as reading for directors and prospective directors of all types of organisations."
The new Guide advocates that effective governance should be led from the top of organisations with the practical application of core values and an ethical approach. These should be backed up by governance structures that work and are fit for purpose such as Boards of the right size with the right mix of skills and independence. The quality of decision-making and debate at Board-level can also be improved through greater diversity of skills, backgrounds, gender and nationality of Directors. Finally, Boards need to get real about the risks that confront their organisations.
A Practical Guide to Corporate Governance (2nd Edition) by David W. Duffy is published by Chartered Accountants Ireland (http://www.charteredaccountants.ie) and is priced at €35.
SOURCE Prospectus Management Consultants