Governance Controls
Mechanisms to measure progress, ensure compliance, and monitor the effectiveness of governance processes across the organization.
Implications
The mechanisms, policies, and procedures implemented by an organization to ensure that it operates within the legal framework, adheres to ethical standards, and aligns with its strategic objectives, often involving oversight by the board of directors and senior management.
Example
Example: A financial services firm strengthens its governance controls by implementing a new compliance monitoring system, ensuring that all transactions meet regulatory requirements and internal ethical standards.
Related Terms
Different from operational controls, which focus on the day-to-day management of business processes, governance controls are concerned with the overarching framework of rules and policies that guide corporate behavior.
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