Session 12 Governance

What is the definition of governance according to ISO 26000?

• Making ethical decisions independent of personal interests.

• A system by which an organisation makes and implements decisions in pursuit of its objectives.

• Managing organisational risks effectively.

• Ensuring compliance with all legal and financial regulations.

Which of the following is NOT one of the ISO 26000 principles?

• Accountability

• Transparency

• Profit maximisation

• Ethical behaviour

Which type of governance ensures compliance with laws and policies and focuses on a company's mission?

• Non-profit governance

• Corporate governance

• Process governance

• Public governance

What is the primary focus of process governance?

• Fundraising for organisational activities.

• Standardising management practices and consolidating tasks.

What does fiduciary duty NOT include?

• Duty of loyalty

• Duty of care

• Duty of financial gain for trustees

• Duty of due diligence

Governance is solely about compliance with legal requirements.

• True

• False

Non-profit governance is the responsibility of trustees, who must ensure the organisation operates ethically and pursues its objectives.

• True

• False

Public sector governance impacts only the internal operations of government agencies.

• True

• False

The CFO typically acts as the company secretary, leading on governance guidelines and financial reporting.

• True

• False

Strategic governance influences resource allocation and encourages innovation and entrepreneurship throughout the organisation.

• True

• False