What is Corporate governance?
Broadly speaking, corporate governance refers to the framework a Local Authority puts in place which defines its accountability to users, stakeholders, partners and the wider community and within which the Council takes decisions and directs and controls its functions in order to achieve its objectives. Briefly, it is the system by which the Council directs and controls its functions and relates to its community.
What are the principles underlying Corporate Governance?
- openness
- accountability
- integrity
Besides these foundation principles of good corporate governance, the concept of community leadership overarches them. What this means in practice is that the principles of good governance will only be demonstrated and achieved if leadership is exercised in the following ways:
- The Council should develop a vision for its community and should lead by example in its decision-making and the overall manner in which it directs and controls its functions and relates to its community.
- Members and officers must conduct themselves in accordance with the highest possible standards.
How do the Principles of Corporate Governance relate to the activities of the Council?
In looking at the way in which Councils direct and control their functions and relate to communities, five inter-related yet individually distinguishable dimensions can be identified. These dimensions are:
1. Community Focus
2. Service Delivery Arrangements
3. Structures and Processes
4. Risk Management and Internal Control
5. Standards of Conduct
Note that the broad principles of corporate governance are threaded through these five dimensions. When considering the activities Bromley is committed to in order to comply with the Code, it is important to bear in mind that they are not mutually exclusive and that in fact some of the actions listed under a specific dimension will also help to a lesser or greater extent to meet the requirements of some or all of the other dimensions.
Our Annual Governance Statement is available below.
Publication Date
Monday, June 16, 2008
|
Publisher
London Borough of
Bromley
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Code of Corporate Governance
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Bromley Annual Governance Statement 2007-08
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