Why this fact sheet?
This fact sheet is designed to show in a straightforward way why research activities need specific research governance and what it might look like. Research governance would form part of an organisation’s overall corporate governance environment. The research governance model contained in this fact sheet is indicative and should be adjusted for differing research activities.
Corporate governance is a widely used business term that can mean different things to different people in different organisations. Its overall intention is to promote confidence with stakeholders. There is a lot written about it. But considering how widely the term corporate governance is used, it is surprising there is not more definitive information on holistic frameworks, capability maturity guidance, and the link between governance and assurance.
The governing body of an organisation is ultimately responsible for an organisation’s corporate governance. In a company, this will be the board of directors. In the public sector where there is not a board of directors, governance arrangements are implemented by the head of the organisation such as the secretary, director-general or chief executive.
The Institute of Internal Auditors in its ‘International Professional Practices Framework’ defines corporate governance as:
The combination of processes and structures implemented by the board to inform, direct, manage and monitor the activities of the organisation toward achievement of its objectives.