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Podcast Episode 84 ICGI 04- 04 – SOS Governance Standards – Governance over Financial performance
Audio
SOS Governance Standards.mp3
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Podcast Episode 84 ICGI 04- 04 – SOS Governance Standards – Governance over Financial performance
Summary
In ICGI Series 4-01 I focused on Empowering Auditors with the emphasis on FEC Report of Auditors – Self Governance. In fact it is Auditing of Auditors.
In ICGI Series 4-02 ESG Audit – I focused on Empowering Auditors with the emphasis on FEC Report of Investee Companies’ ESG Audit. It is indeed Society Assurance.
In ICGI Series 4-03 HACCP of Bank Audit I focused on Empowering Auditors with the emphasis on FEC Report of Banks “SOS Governance Standards” approach to integrate P&L, Balance Sheet and RWA BASEL III parameters and provide a common rating system for Banks.
In ICGI 04- 04 – SOS Governance Standards – I highlight the importance of governance over financial performance
1. I emphasize the importance of governance over financial performance when evaluating companies for investment.
2. A framework is presented that includes fiscal responsibility, ethical responsibility, and corporate culture as key elements of corporate governance.
3. A “corporate atomic structure” is with 308 process blocks, of which 296 are qualitative elements and 12 are quantitative elements of management. [Gone up from 200 to 308].
4. There is a strong emphasis on women’s empowerment, suggesting that women should be given control over the 296 ethical cum co-responsibility factors.
5. I recommend establishing a tracking system for governance standards, focusing on subject-object-self (SOS) governance and measuring, recording, implementing, and tracking fiscal, ethical cum co-responsibilities.
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