Printer Friendly
The Free Library
14,560,361 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Take the reins in corporate governance: with their unique skills, communicators have a chance to improve compliance efforts.


Enron, WorldCom, Parmalat Group Italy, Robert Maxwell For other persons named Robert Maxwell, see Robert Maxwell (disambiguation).

Ian Robert Maxwell MC (June 10, 1933 – November 5, 1991) was a Czechoslovakian-born British media proprietor and formerly Member of Parliament (MP), who rose from poverty to build an extensive
 and the U.K.'s Daily Mirror--these are examples where company oversight has proven inadequate, with disastrous results. Corporate governance Corporate Governance

The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law.
 frameworks, when effective, can help organizations avoid potential compliance violations while promoting prosperity, consumer confidence and public trust. Communicators can help make such frameworks more than an ineffective checklist.

A Deloitte study of 800 North American North American

named after North America.


North American blastomycosis
see North American blastomycosis.

North American cattle tick
see boophilusannulatus.
 companies published last year found that well-planned and well-executed corporate governance programs brought about significant business benefits, including enhanced market confidence and reputation management, reduced risk of loss through fraud, improved acquisition integration, better control over management and information systems, standardization of processes and controls, and improved disclosure for stakeholders Stakeholders

All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government.
.

Today, policymakers worldwide are challenged with striking a balance between market forces and regulation and with implementing internationally recognized principles of responsibility, accountability, transparency and fairness. Communicators have a significant contribution to make in this effort, because they know how to change people's attitudes and behaviors to obtain positive internal outcomes, as well as how to manage reputation externally. IABC's Gold Quill Awards case studies and academic publications alike point to the role that communicators can play in effecting change.

Two of the greatest difficulties for business communicators in tackling corporate governance are defining it and then understanding what contribution they can make.

Corporate governance, as a framework created from different historical, political and cultural events, differs from one part of the world to another. Sir Adrian Cadbury Sir George Adrian Hayhurst Cadbury (born 1929) is a member of the well-known Cadbury family. The family is known for their Quaker philosophy and the chocolate conglomerate which they founded (now part of Cadbury Schweppes). , the author of The Financial Aspects of Corporate Governance (also known as the Cadbury Report The Cadbury Report, titled Financial Aspects of Corporate Governance, is a report of a committee chaired by Adrian Cadbury that sets out recommendations on the arrangement of company boards and accounting systems to mitigate corporate governance risks and failures. , a document highly influential in defining U.K., European Community European Community: see European Union.
European Community (EC)

Organization formed in 1967 with the merger of the European Economic Community, European Coal and Steel Community, and European Atomic Energy Community.
 and global corporate governance), uses this definition: "Corporate governance is concerned with holding the balance between economic and social goals and between individual and communal goals. The corporate governance framework is there to encourage the efficient use of resources and equally to require accountability for the stewardship of those resources. The aim is to align as nearly as possible the interests of individuals, corporations and society."

The contribution communicators can make is to get involved in organizationwide, national and international dialogue about how to improve corporate governance while promoting global prosperity and cooperation. An initiative called "Beyond the Myth of Anglo-American Corporate Governance" was launched in June 2005 by the Institute of Chartered Accountants in England and Wales England and Wales are both constituent countries of the United Kingdom, that together share a single legal system: English law. Legislatively, England and Wales are treated as a single unit (see State (law)) for the conflict of laws.  (ICAEW ICAEW Institute of Chartered Accountants in England & Wales ) to promote more consistent, less complex global corporate practices, and to facilitate understanding of different approaches to governance by fostering an appreciation of equivalent systems.

find more online

For more about compliance issues, including the ICAEW's and other governance models, visit www.iobc.com/cw.
COPYRIGHT 2006 International Association of Business Communicators
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:SPECIAL REPORT / Europe/Middle East
Author:Riley, Andrew
Publication:Communication World
Geographic Code:4EUUK
Date:Nov 1, 2006
Words:430
Previous Article:Letter from the Middle East: different languages, religions and cultures present perhaps the world's greatest communication challenge.(SPECIAL REPORT...
Next Article:The BBVA experience.(case study)
Topics:



Related Articles
Internal communication restructures for the '90s.
Communicators comment on rapidly changing global climate. (global opportunities for public relations professionals in the 1990s) (panel discussion)
What is your greatest ethical obstacle as a PR or communication practitioner? (Global Perspectives).
Accounting school gets an ethics makeover: while accredited professionals naturally keep up in their fields, the new legislation is driving many to...
The governance gap: governance improvements are incomplete without effective controls over all the business risks a life insurer faces.
Companies step up to the Sarbanes-Oxley challenge.(implementation of the act costs more)(Advertisement)
The value proposition: there's more to Sarbanes-Oxley compliance than meets the eye.
Ethics: the global challenge: the demands of regulations are creating mounting ethical dilemmas for management teams and their communicators.(POLICY)
CW exclusive: an interview with IABC's new Europe and Middle East regional chair: growing ties with Middle Eastern communicators among Cambie's...

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles