Committees/
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Ecoda Policy

Press

In times of crisis, corporate governance is crucial, it is not just window-dressing. After Enron, there was a serious danger of too much focus on monitoring to the detriment of sufficient attention to strategy and entrepreneurship. Despite the huge investments in internal audit, control and risk management, the financial crisis has proven that the extent of the board’s involvement in establishing the appropriate risk appetite for the company is insufficient. Although governance standards have generally improved a lot and most boards are working well, the need for changes and improvement should not be underestimated. Some boards are facing difficulties in understanding the complexity of their business model, the products and the organisation of their company. Adequate solutions must be found.