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C3-GOVERNANCE CULTURE

 
An organization should build and promote a culture that encourages good corporate governance.  The governance culture relates to attitudes about how an organization sets and cascades enterprise objectives from the board to every business unit and department -- and how oversight and control is practised.

*** NOTE *** This topic deals with corporate governance as it specifically relates to programs. Specific guidance on how to address corporate governance requirements is provided as part of the OCEG Domain "GOV: Corporate Governance"

Principles
> Sufficient independence of the governing bodies from management
> Open climate for discussion and questions
> Dialogue with appropriate stakeholders
> Cascading responsibility and accountability throughout the organization
> Information flow down, up and across the organization
> Interactions with third parties/other stakeholders & social responsibility


Business Objectives
  • To ensure that the entity exhibits a culture that encourages good corporate governance
Considerations
  • Governance culture is a key component in the way an organization sets objectives and practises control
Critical Success Factors
  • An independent board is key to good corporate governance