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Don't take our word for it. Discover how other organisations, Boards and Directors benefit from contemporary governance Review & Development. Connecting Home Ltd #ContemporaryGovernance #GovernanceReview #BoardDevelopment #DirectorDevelopment

Do you know what governance is? Really, really know? For Sue Lawrence, founder of Independent Directors & Trustees Ltd, the answer’s clear. 📢 “People often misunderstand what governance is. It’s the connection and communication between the main forums of the company to make sure the business can continue to work effectively and grow.” Governance is crucial to a successful EO business… …especially where Independent Trustees are concerned. Dive deeper into good governance and develop best practice skills in our ‘Becoming an Independent Trustee’ course. ➡️ https://lnkd.in/e558wzqx Taught by Sue and Campbell McDonald. Until then, here’s Sue’s top 5 tips to create good governance: 1️⃣ Reflect on what you’ve got first 2️⃣ Think ‘how do we implement this?’ 3️⃣ Informed decision-making 4️⃣ An independent trustee can be invaluable 5️⃣ Need for constant reflection #Governance #Business #Trustee #EmployeeOwnership

This is the single most important must-read #governance report of 2024! Published today, it is written by a group of experts who have analysed what went wrong inside the boardroom of Post Office Ltd, the greatest scandal in UK corporate and legal history - one which has caused untold suffering to thousands of innocent people, undermining trust in existing frameworks of governance and #business leadership.  Read the report here and decide how your board measures up, and whether the red flags the Post Office #board ignored exist in some shape or form inside your organisation. https://lnkd.in/eFZzk65H This is a Case Study evolving in real time. Although ostensibly an IT scandal, the root causes were failures in human decision-making, organisational #culture and business #ethics. Post Office governance proved unequal to the task of addressing these issues, and did not fulfil the purpose for which it existed. The report - published by the Institute of Directors (IoD) - highlights the following 10 key issues 1. Over a period of 20 years, numerous cohorts of directors failed to deliver adequate scrutiny of management and key business activities. 2. There was a lack of professional curiosity and critical challenge. 3. The board did not succeed in ‘lifting the rock’ on the corporate culture of the Post Office, which was dysfunctional.  4. Board members failed to challenge a pervasive groupthink and, in many cases, became absorbed into a culture of mistrust. 5. Throughout the scandal, the behaviour of the board itself was excessively passive. 6. Directors placed undue reliance on the advice and reassurances of management and legal advisers, and failed to adopt an independent critical mindset. 7. Financial and reputational issues were prioritised, whereas technological and legal concerns arising from the defective Horizon IT system were ignored or downplayed. 8. The board did not sufficiently address the key risks to which the business was exposed. 9. The capacity of directors to exercise meaningful scrutiny was hamstrung by the fact that some lacked training or experience in directorship, and most were ill-equipped to provide meaningful oversight of major IT projects or legal risks. 10. Stakeholders need better assurance that directors possess the necessary competencies and a proper understanding of their roles. Please repost this to your network. The more who read this report the better - there is no sector which doesn’t have something to learn from the failure of the directors of Post Office Ltd to do their job properly. Ronan Dunne Dr. Roger Barker Damon Clark CDir Richard Moorhead Nick Gould Mary Campbell OBE Barry Gamble Karl West Darriane Garrett Sasha Trapani Kirsty McManus Dip IoD, MBA Alex Edmans Megan Pantelides Sylvia Malo Jaya Gupta Peter Ewing Leon Kamhi Caroline Escott Alex Tamlyn Carrie Stephenson Peter Swabey Daniel Summerfield Helen Smyth

Interesting and highly-readable Policy Paper from the UK Institute of Directors on the governance failures behind the Horizon Post Office scandal. Lots of lessons to be taken by those charged with governance in organisations big and small, including: - challenging management and not being afraid to look under rocks - focussing in on outsourcing oversight - demanding and making good use of external board performance reviews - insisting on training for board members Important considerations for all directors. #governance #grc #boardgovernance https://lnkd.in/ewqViv_S

🔎 Webinar Spotlight: The UK Post Office Scandal - Where Was the Board? 🔎 Join us today for an insightful webinar that delves into the UK Post Office scandal. Understand the crucial failures in governance that led to this major crisis and learn how to prevent similar issues in your organisation. Don’t miss out on valuable lessons in corporate oversight and responsibility. Register now: https://bit.ly/3wbcjmg #CorporateGovernance #LeadershipAccountability #BoardroomInsights

Thoroughly enjoyed this webinar yesterday from The Corporate Governance Institute - UK Post Office Scandal - Where was the Board? This aligned with my initial thought while watching Alan Bates v The Post Office, did the NEDs not question what was happening❓ Although yesterday's session was high level (given there are still many questions to be answered during Part 6 of the Inquiry regarding Governance which is still ongoing) a number of interesting points were raised. Did you know 8️⃣ 0️⃣ NEDs have served on the Post Office Board from 2000 to 2024 😯 David Duffy discussed the key issues: ⚠ a complex accountability structure - the UK Government as shareholder and FCA as regulator, as well as the Post Office being a division of Royal Mail until 2012. ⚠ the Chair / Board/ CEO relationship - open and transparent...or not? ⚠ role of General Counsel - did they have access to the Board and highlight the 900 prosecutions. Was there an obligation for GC to whistleblow if the CEO did not share this information with the Board? ⚠ Board's IT skillset appears lacking - Paula Vennells was quoted as saying "The message that the Board and I were consistently given by Fujitsu, from its highest levels of the company, was that while, like any IT system, Horizon was not perfect and had a limited life-span, it was fundamentally sound. I believed that it was reasonable for the Board to rely on these assurances." ⚠ was there a whistleblowing policy in place at the Post Office - it was in fact an employee of Fujitsu that eventually raised concerns. ⚠ there appears to be an absence of curiosity from the NEDs - 900 of the 6,727 sub post-masters were allegedly corrupt, that's 1️⃣ 3️⃣ % of the workforce!!! Was this information available to the CEO and the Board, was it being discussed and monitored? There has been substantial media coverage since 2009 - what questions were being asked by the NEDs??? David then shared his reflections on this, the worst example of corporate governance he has ever seen: ▶ what was the Board culture - trust or fear? ▶ were Board evaluations carried out, and if so what were the findings? ▶ how close were the NEDs to the ExCo? ▶ what level of due diligence was carried out by the (80!) NEDs on their appointment to the Board - did they visit any post office branches or talk to any of the sub-postmasters? ▶ what data was shared with the Board? The human element is without doubt the most upsetting element of this debacle💔That is why this current phase of the inquiry in respect of governance is, in my mind, crucial to determine the involvement of the NEDs, auditors and the FCA. As David discussed, the UK Code of Corporate Governance is fit for purpose for an organisation / board as a whole however perhaps going forward there needs to be a higher level of personal responsibility and accountability for directors? This reminded me of the IOD's proposal for A Voluntary Code of Conduct for Directors - does anyone know what stage this is at❓

🌐 Where was the Board? Reflecting on Corporate Governance Lessons from the Post Office Scandal, Webinar The Corporate Governance Institute Today, I attended an insightful webinar hosted by The Corporate Governance Institute, which delved into one of Britain's most significant miscarriages of justice involving the wrongful conviction of over 700 Post Office Sub Post Masters. This tragic event led to devastating consequences, including imprisonment, loss of livelihoods, homes, and even marriages for many. While key executives and former ministers are under scrutiny, the role of the Board has been less prominently examined. The recent removal of the Chair by the Minister in January 2024 underscores the urgent need for new leadership and accountability within the Board itself. Some key takeaways from the webinar: - Board Accountability: The Board must hold itself accountable for its oversight failures. This scandal highlights the critical need for boards to ensure that they are effectively monitoring and questioning executive actions. - Critical Oversight and Curiosity: The absence of curiosity and critical inquiry by the Board allowed significant issues to go unchecked. Boards must cultivate a culture of continuous learning and questioning to prevent such oversights. - Chair/Board/CEO Relationship: A healthy and transparent relationship between the Chair, the Board, and the CEO is crucial. This dynamic must be built on mutual respect, clear communication, and a shared commitment to ethical leadership. - Ethical Leadership: Ethical considerations must be at the forefront of all board decisions. The Board plays a pivotal role in setting the ethical tone and ensuring that the organization operates with integrity. - Path to Recovery: For the UK Post Office to rebuild trust and recover from this scandal, it must prioritize transparency, stakeholder engagement, and a renewed commitment to robust governance practices. This session was a powerful reminder of boardroom decisions' profound impact on an organization and its stakeholders. Robust corporate governance is not just a regulatory requirement but a moral imperative. Thank you The Corporate Governance Institute Thank you David W Duffy #CorporateGovernance #BoardAccountability #EthicalLeadership #PostOfficeScandal #BoardOversight #ChairCEOBoardRelationship #WebinarInsights #riseaboveandempoweryourself

Quasi-independent board: This level introduces outside/independent directors who have no employment or other tie to the company apart from their role as a director. These directors introduce objectivity and accountability to the board and they expect their input to be respected. Board processes and policies will likely become more formalized with outside/independent directors on the board. The number of committees may increase. This outermost ring on the family business corporate governance model is most similar to governance at a public company. #familybusiness #governance #generations #successionplanning #sustainability #budgeting

Perfect read for board members looking to strengthen governance. - https://lnkd.in/eQxuJnPs Stay tuned for more insights in Part II! #BoardOversight #StrategicPlanning #Governance

Perfect read for board members looking to strengthen governance.  https://lnkd.in/eQxuJnPs Stay tuned for more insights in Part II!  #BoardOversight #StrategicPlanning #Governance