Governance

The system of rules, practices and procedures by which a business is directed and controlled.

It essentially involves balancing the interests of a business’s many stakeholders, including shareholders, owners, management, employees, customers, suppliers, financiers, government and the community.

This may include policies on:

  • ethical trading
  • social responsibility and
  • carbon reduction.

Dealing with such things as:

  • regulatory compliance e.g. the Provision of Services Regulations;
  • supplier payments and
  • credit control and debt management including late or non-payment of invoices.