The Four Pillars of Governance Best Practice

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Contents

The Four Pillars of Governance Best Practice provides fundamental guidance to directors.

Overview

An overview of corporate governance and directorship in New Zealand.

The first pillar - Determining purpose

The first pillar of governance focuses on the board’s role in leading the development of the entity’s purpose and strategy.

The second pillar - An effective governance culture

The second pillar covers due diligence when deciding to join a board, and the director’s life on the board from day one induction through to exiting the board.

The third pillar - Holding to account

The third pillar focuses on risk management. Boards hold management to account through informed, astute, effective and independent oversight.

The fourth pillar - Effective compliance

The fourth pillar focuses on common compliance matters including solvency, financial reporting, director remuneration, and annual meetings.

Appendices

The Four Pillars appendices provide additional resources, references and guidance to directors to assist them in carrying out their duties and responsibilities.

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