Corporate governance is about establishing sensible guidelines to help owners, the board and management to manage and develop the company’s resources in the best possible way. Corporate governance is a priority for many boards of directors, as companies that can demonstrate good governance and control achieve higher profitability over time.
The role of the board
A key part of corporate governance is assigning roles and responsibilities between company owners, board of directors, management and other stakeholders. In Norway, the overall responsibility for a company's operations and development lies with the board of directors.
The board of directors role, and not least the interaction between the board of directors and the owners on one hand and management on the other hand is crucial for the company to appear in a trustworthy manner towards the company's various stakeholders.
Do you wish assistance with board evaluation, audit committee or professionalise board work?
For several years we have been working with corporate governance both in Norway and internationally. Our experts in the field can assist regardless of industry, size or complexity of the business.
How can we help you?
- Audit committee
- Professionalise Board work
- Establish, benchmark and maintain the governing structure
- Evaluation of the board
Audit committee
We have extensive experience in assisting audit committees in different industries. We understand the legislation, know the classic pitfalls and provide bespoke advice on how best practice should be applied in each company.
We can help you with:
- The committee's mandate, role and annual plan
- Scope and content of management's reporting to the committee
- Competence building in accounting reporting and rules
- Competence building in risk management and internal control
Professionalise Board work
We can help you with:
- Prepare instructions for Board, audit and compensation committee.
- Prepare instructions for CEO
- Training / seminars for board members, audit and compensation committee.
- Evaluate the boards work, as well as the work for audit and compensation committee.
- Assist with evaluation of existing governing documents and processes for the boards work towards best practice, to identify further areas for improvement.
- Be a discussion partner for the board i their work
Establish, benchmark and maintain the governing structure
We can help you with:
Develop necessary governance structure to strengthen the business in the context of different situations:
- The need to strengthen the governance structure linked to selected risk areas
- Strong growth or increased complexity of processes leads to increased need for standardisation of conduct
- The company sees gain in harmonizing conduct and decisions across units and companies in a group
- Strengthen the formal governance structure ahead of an IPO or raising capital
Evaluation of the board
We have broad experience in assisting companies in different sizes within both the private and public sector in evaluating their work. We facilitate a process based on what is the norm for good board work, and fit it to each company.
We summarise our work in a value-creating analysis that deals with topics such as understanding the owner's expectations, the board's composition and overall competence, logistics and implementation of board work, communication within the board, management of board work, how well the work with risk management and internal control is monitored. experience that they get to use their potential. We have a methodology that can be effectively adapted to the individual board's defined role and annual plan.
Contact us
Partner I National leader, Audits and Trust Solutions, PwC Norway
Tel: +47 952 60 113