Corporate Governance
Corporate Governance has been one of the most used – and abused – terms of the 21st Century. Governance is often associated with regulatory reporting, especially in light of a number of major corporate disasters. But governance is not just about financial reporting; it’s about ensuring that the business results of companies are well managed, within the law and most importantly, provide assurances to shareholders that their investment is well protected. According to the United States Government Accounting Office, corporate and other governing boards must take steps designed to:
- Maximize value to shareholders over time
- Manage risks for stakeholders
- Hold management accountable for results both currently and over time
According to the GAO, investors outside the company should have the information they need to clearly judge corporate performance and to compare one company’s performance and practices against others. In addition, the GAO makes the following observations:
- Corporate leadership must establish a climate of integrity and transparency at the top that reaches to every level of the organization.
- CEOs must remember that they are stewards, not owners, of the organization.
- Everyone at every level should understand the role and function of the organization, how decisions are made, and how decisions should be executed.
The need for good data governance permeates all facets of a business. In order to ensure data governance policies and procedures are well maintained, companies must first ensure that the data they are relying on is accurate and consistent. Kalido solutions can provide a solid foundation for corporate governance; meeting not only the reporting requirements required by law, but helping to manage the implementation and deployment of workflow-based corporate governance processes. With Kalido’s unique ability to track all data stored within the system, you can create a robust audit trail of not only the information, but what the information represented at any point in time. Kalido’s fully automated approach to managing information means that you’ll never have to doubt your answers or the data used to create them.
