Governance refers to the systems by which organisations are run and the laws, regulations and best practice with which they are required to comply. Practical governance means ensuring compliance with regulations and the implementation of appropriate administrative procedures. Sound governance is increasingly being recognised as the foundation for long term organisational success.
Board members have the overall duty for governance.
However, on a day to day basis, they need somebody else to inform them of their responsibilities, advise on how best to comply with legislation and best practice and manage organisational systems and procedures. Chartered Secretaries are specially trained on the Institute's qualifying scheme to fulfil this role. In their everyday work they turn governance theories, regulations and codes into practice. It looks at how electronic methods can enhance shareholder communication and encourage more shareholders to vote.