Corporate Governance
Much is said and done these days in the name of corporate governance and definitions of this term abound. The OECD defines corporate governance as “a set of relationships between a company’s management, its board, its shareholders, and other stakeholders [which] …provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance are determined.”
Another definition of corporate governance highlights just how frequently the term is used (or over-used) in today’s environment. It defines it as “a term as amorphous in definition as it is prevalent through lip service, but the essence of corporate governance remains uncomplicated enough: ethical business behavior in every sphere and with all constituents.” Regardless of the definition chosen, most people would agree that corporate governance means the way a company’s board of directors and senior management:
- Set corporate objectives;
- Operate the company on a day-to-day basis;
- Meet the obligation of accountability to shareholders and other stakeholders (including with respect to banking institutions, depositors); and
- Align corporate objectives to ensure that operations are conducted in a safe and sound manner, and in accordance with applicable laws and regulations.
At Winalta Inc., we are committed to managing and operating the business with integrity, transparency and a solid commitment to sound and ethical business practice.
