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The 9 Concepts of Corporate Governance

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Chan Chong
Chan Chong

For ACCA students studying P1 Governance, Risk, and Ethics Powerpoint slide notes on the 9 concepts of corporate governance. Probity/honesty Integrity Fairness Responsibility Independence Judgment Transparency Accountability Reputation More resources at www.accaforstudents.com

BildungBusinessWirtschaft & Finanzen
1 von 15
The NINE CONCEPTS of www.accaforstudents.com/P1 More resources at: www.accaforstudents.com
What is “CONCEPT”? Basic IDEA Principles THEMES Generally accepted rule
Mnemonic: Penang Indian Food Restaurant In Jalan Tunku Abdul Rahman
The 9 Concepts • Probity/honesty • Integrity • Fairness • Responsibility • Independence • Judgment • Transparency • Accountability • Reputation
1. PROBITY HONESTY & TRUTH NOT MISLEADING STRONG MORALITY “I cannot tell a lie” -Abraham Lincoln
2. INDEPENDENCE Independent Vested Interest Free from conflict of Influences interest Connection/Relationship Decisions/actions
3. FAIRNESS EQUAL-HANDED BALANCED NO BIAS RESPECT RIGHTS & VIEWS Stakeholders Stakeholders
4. Responsibility Clearly defined Track Roles & Responsibilities Credit & Blame “It was not my responsibility”
5. Integrity High MORAL VALUE STRICT adherence to moral code High PROFESSIONALISM ACTIONS are honest, truthful, fair, independent, etc without compromise
6. Judgement DECISIONS – for the good of the org BALANCED EVALUATION FACTORS
7. Transparency Open & clear DISCLOSURE Not CONCEALING info Transparency vs. Confidentiality? Tajudin-Danaharta Case
Tajudin-Danaharta Case Owes RM589m Sue in court to recover the debt A government linked- Tan Sri Tajudin Ramli (former MAS CEO) company (GLC) February 2012 – out of court settlement But the terms of the settlement remain CONFIDENTIAL! There should be transparency for the interest of the public (the principal)
8. Accountability ANSWERABLE for the actions/decisions Can ask QUESTIONS In all relationships Companies to Investors Professionals to their values Business to stakeholders etc
9. Reputation “GOOD NAME” of the entity Affects the business
More resources at: www.accaforstudents.com

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The 9 Concepts of Corporate Governance

  • 1. The NINE CONCEPTS of www.accaforstudents.com/P1 More resources at: www.accaforstudents.com
  • 2. What is “CONCEPT”? Basic IDEA Principles THEMES Generally accepted rule
  • 3. Mnemonic: Penang Indian Food Restaurant In Jalan Tunku Abdul Rahman
  • 4. The 9 Concepts • Probity/honesty • Integrity • Fairness • Responsibility • Independence • Judgment • Transparency • Accountability • Reputation
  • 5. 1. PROBITY HONESTY & TRUTH NOT MISLEADING STRONG MORALITY “I cannot tell a lie” -Abraham Lincoln
  • 6. 2. INDEPENDENCE Independent Vested Interest Free from conflict of Influences interest Connection/Relationship Decisions/actions
  • 7. 3. FAIRNESS EQUAL-HANDED BALANCED NO BIAS RESPECT RIGHTS & VIEWS Stakeholders Stakeholders
  • 8. 4. Responsibility Clearly defined Track Roles & Responsibilities Credit & Blame “It was not my responsibility”
  • 9. 5. Integrity High MORAL VALUE STRICT adherence to moral code High PROFESSIONALISM ACTIONS are honest, truthful, fair, independent, etc without compromise
  • 10. 6. Judgement DECISIONS – for the good of the org BALANCED EVALUATION FACTORS
  • 11. 7. Transparency Open & clear DISCLOSURE Not CONCEALING info Transparency vs. Confidentiality? Tajudin-Danaharta Case
  • 12. Tajudin-Danaharta Case Owes RM589m Sue in court to recover the debt A government linked- Tan Sri Tajudin Ramli (former MAS CEO) company (GLC) February 2012 – out of court settlement But the terms of the settlement remain CONFIDENTIAL! There should be transparency for the interest of the public (the principal)
  • 13. 8. Accountability ANSWERABLE for the actions/decisions Can ask QUESTIONS In all relationships Companies to Investors Professionals to their values Business to stakeholders etc
  • 14. 9. Reputation “GOOD NAME” of the entity Affects the business