CHAPTER 2: THE CORPORATE GOVERNANCE CONTEXT
ISO/IEC 38500 is clear that governance is distinct from management. It identifies the role of an organisation’s governing body and aligns that with the governing body’s role as described in the G20/OECD Principles of Corporate Governance, as revised in 2004, and in the 1992 Cadbury Report on corporate governance.
“Corporate governance could be thought of as the combined statutory and non-statutory framework within which boards of directors exercise their fiduciary duties to the organisations that appoint them.”5
The term ‘corporate governance’ gained prominence in 1978 when used by Robert Tricker in The Independent Director.6 In Corporate Governance (1984), he described corporate governance as being ...