Governance can be defined as :
“The traditions and institutions by which authority in a country is exercised” – Kaufman et al
The way “ … power is exercised through a country’s economic, political, and social institutions.” – the World Bank’s PRSP Handbook.
“The exercise of economic, political, and administrative authority to manage a country’s affairs at all levels. It comprises mechanisms, processes, and institutions through which citizens and groups articulate their interests, exercise their legal rights, meet their obligations, and mediate their differences.” – UNDP.
“The traditions and institutions by which authority in a country is exercised” – Kaufman et al
The way “ … power is exercised through a country’s economic, political, and social institutions.” – the World Bank’s PRSP Handbook.
“The exercise of economic, political, and administrative authority to manage a country’s affairs at all levels. It comprises mechanisms, processes, and institutions through which citizens and groups articulate their interests, exercise their legal rights, meet their obligations, and mediate their differences.” – UNDP.
Sustainable governance can be achieved in four ways;
Management oversight
Structure; Recognize and manage risk
Decision-making
Context; Relevance; Rights of shareholders; Interests of stakeholders; Timeliness; Inclusiveness; Transparency.
Integrity in reporting
Materiality; Timely and balanced disclosure; Clarity; Neutrality; Accuracy; Audit ability
Encourage enhanced performance
Remunerate fairly; Providing indicators of performance.
Decision-making
Context; Relevance; Rights of shareholders; Interests of stakeholders; Timeliness; Inclusiveness; Transparency.
Integrity in reporting
Materiality; Timely and balanced disclosure; Clarity; Neutrality; Accuracy; Audit ability
Encourage enhanced performance
Remunerate fairly; Providing indicators of performance.
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