The standard published on 31st August 2013 is an independent governance standard for the UK and has been developed with input and consensus from a variety of professional bodies, government departments and private businesses.
With governance issues becoming more prominent, BSI and its committee of industry professionals are responding to industry’s request to create a broad based standard that consolidates existing governance principles.
The standard provides guidance on how to achieve good governance throughout an organization. It focuses on effective structures, relationships and accountability and provides guidance to outsiders on what pre-requisites an organization should have in order to illustrate good governance.
Michael Faber, Committee Chair and Director at Regal TC said:
“Governance issues have shot up organizations’ agenda over the last few years. Whether it’s been the Olympus accounting scandal or financial crash of 2008-09, lack of governance and oversight has been proven to have huge financial and reputational consequences.”
Regal TC are fully committed to raising the profile, understanding and quality associated with effective Governance within organisations, including assisting in the development of this new British Standard. For further details on the Governance Standard and its progress, see our Governance page.