Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

IOD welcomes focus on regulatory governance structures

The Institute of Directors (IoD) welcomes the New Zealand Initiative’s report Who Guards the Guards? Regulatory governance in New Zealand released today.

The report surveyed 60 companies’ experiences with 24 regulators and found that the performance was closely linked to the kind of governance structure they adopted with regulators such as the Takeovers Panel and the Financial Markets Authority (FMA) receiving the highest marks.

“Good governance is crucial to building a strong New Zealand and there is great value in reviewing and considering how governance structures can effectively drive the success of our businesses and organisations”, says Felicity Caird, General Manager of the IoD’s Governance Leadership Centre.

“A governance structure with a clear separation between the board and management enables the board to focus on strategic direction, oversee performance and risk and hold management to account.”

The report also recommends creating an independent agency to ensure independent scrutiny and standardised process for appointments to regulatory agencies.

“Ministers have a critical role in appointing board members,” says Caird.

“It is important they are well supported with good advice and robust processes. This is a good opportunity to review current appointment systems. A robust appointment process helps ensure state sector boards have the right mix of skills, experience and diversity of thought to be effective and add value”.

Caird says all governance arrangements should be based on core governance principles such as responsibility, accountability and transparency, and the issues raised in the report offer an opportunity to look at our current governance structures.

The IoD values continuous improvement and believes that driving thought, debate and discussion about the governance environment in New Zealand will help us to build a stronger future.

– ENDS –


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Thompson+ Clark, And Russia’s FIFA World Cup

Daily, the coalition government keeps running into examples of the toxic legacy left behind by National – and just as regularly, even the simple fixes are proving stubbornly difficult to enact. Take the case of the security firm Thompson + Clark, which has been employed – time and again - by state agencies over the past decade, to spy on (and provide security against) ordinary New Zealanders engaged in lawful forms of protest. More>>

 

HiveMind: Fair Enough? How Should New Zealanders Be Taxed?

Have Your Say! Scoop and PEP invite you to share your issues, ideas and perspectives on the NZ tax system with other New Zealanders using Scoop’s HiveMind tool. This Tax HiveMind is intended to complement and feed into the review being run by the Government-appointed Tax Working Group (TWG), which is looking at the fairness, balance and structure of the tax system with a 10-year time horizon. More>>

ALSO:

Gordon Campbell: On The GCSB’s Security Hang-Up With Russia

So our GCSB has chimed in, alongside its British, Australian and US allies, with warnings about a “fresh wave” of Russian cyber attacks, although the warning has been curiously framed. More>>

ALSO:

PM's Europe Trip: CHOGM & Bilateral Meetings

Prime Minister Jacinda Ardern is in urope for the Commonwealth Heads of Government Meeting (CHOGM) in London and meetings with counterparts in Paris and Berlin. More>>

ALSO:

Hit And Run: AG Gives Approval For Inquiry

Attorney-General David Parker has today announced a Government Inquiry will be held into Operation Burnham and related events. The operation undertaken in Tirgiran Valley, Afghanistan, ... More>>

ALSO:

Addressing Climate Change: No New Offshore Exploration Permits

The Coalition Government is taking an important step to address climate change and create a clean, green and sustainable future for New Zealand, Prime Minister Jacinda Ardern announced today. More>>

ALSO:

Road Safety Summit: Actions To Improve Identified

The Local Government Road Safety Summit held last week identified actions that will lead to lasting changes to road safety in New Zealand, says Associate Transport Minister Julie Anne Genter. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages