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How to be a good steward, (ir)relevance of the modern audit and more
October 26, 2012

Welcome to Applied Corporate Governance Updates and Surveys October 2012

This is Arthur Kendall, Director and webmaster of ACG. Thank you so much for subscribing and reading this update! In this issue:

1.  How to be a good steward

Co-inciding with the update of the UK's Stewardship code in September 2012, Nigel defines the concept, sets out who are today's stewards, who they report to and their duties and deals with the inherent problems and possible solutions.

Click for full blog post "What Is Stewardship - How to Be a Good Steward"

2.  The (Ir)relevance of the Modern Audit

The audit used to be an opinion on whether the accounts reflected a company's financial position – now it is just compliance to increasingly complex standards.

Click for full blog post "The (Ir)relevance of the Modern Audit"

3.  Towards a Common Goal - Second Golden Rule of Corporate Governance

Our second Golden Rule of corporate governance is that the business should be targeting an appropriate goal which properly reflects the expectations of the stakeholders.

Click for full page "Towards a Common Goal - Second Golden Rule of Corporate Governance"

4.  Compliance Vs Culture: Culture Wins Every Time

After reading Nigel's article on stewardship and an interesting blog post on, I decided to follow up with a comment on the fit and proper test for executives. The test may be imperfect but for good and bad, corporate culture will always win over compliance.

Click for full blog post "Compliance vs Culture"

5.  Coming soon: Guide to World Governance Codes

We were invited to South Africa during the first King Report, following Nigel's first book on international corporate governance back in 1992, since when we have been following international developments. We have recently been working hard on a reference guide to the major corporate governance codes and regulations around the world, from the "comply or explain" approach adopted in the UK to the prescriptive, legislation-backed US initiatives. We will cover an increasing range of non-English governance regimes from India and Malaysia to Spain, where I am based.

If you have any requests on what countries we should cover in our guide, which will be free for subscribers, please let us know.

6. LAST FEW DAYS...40% off our Corporate Governance Course!

The best way of learning how to implement good governance in your organisation, the introductory offer on our 6 day ebook course must end soon - be sure to take advantage of the 40% discount to avoid missing out on this amazing offer.

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