Having a clear understanding of management's decision-making and risk-management processes can provide several benefits. It can lead to improved clarity, as it helps in translating governance principles into practices by defining roles, responsibilities, accountabilities, information flows, and guidelines. It can also ensure greater visibility, as it helps in fulfilling governance responsibilities by stating the types and amounts of investments and transactions and the risk exposures. Moreover, it can improve coordination by balancing considerations regarding centralization vs decentralization and considering local business, customer, compliance, legal, and other needs. Lastly, it can increase effectiveness by providing specific data that the board and its committees require.
Improve clarity, visibility, coordination, and effectiveness within your organization with Deloitte'...
Download template