Corporate governance and family business
Corporate governance is the framework of rules and systems within and by which authority is exercised and controlled in companies. These issues are not limited to large or publicly listed companies. Every company officer and decision maker is bound to comply with their respective rights and obligations under the Corporations Act 2001(Cth). Effective corporate governance structures encourage companies to create accountability and control systems proportionate with their risks, not to mention value. Rather than governance being a stagnant set of rules and regulations, it needs to be understood and tailored to fit each company so that it can evolve as the company does.
The increasing complexity of corporate governance in recent times has resulted in greater responsibilities for company officers. The roles of company officers have become more complex, more challenging and play an integral part in the affairs and stability of companies.
MST is a member of FBA and proudly supports this initiative and recommends that all directors in family business attend.
If you have any questions in relation to your company’s corporate governance framework or require advice in this area contact Fotini Kypraios who is an
Author: Fotini Kypraios