AS 8000 Corporate Governance

AS 8000, based around ISO 9001, revolves around the principles of good corporate governance and is designed to assist members of boards, chief executive officers and senior managers to develop, implement and maintain a robust system of governance that fits the particular circumstances of the entity, provide the mechanisms for an entity to establish and maintain an ethical culture through a committed, self-regulatory approachm and provide shareholders, or stakeholders, as the case may be, with benchmarks against which to gauge the entity’s performance.

The object of good corporate governance principles is to:

• Enhance organizational performance.
• Understand and manage risks to minimize the negative aspects and maximize the opportunities.
• Increase investor confidence in the integrity and efficiency of capital markets and also enhance the competitiveness of the economy.
• Strengthen shareholder and/or community confidence in an entity, particularly in areas that are not formally regulated.
• Enhance the public reputation of an entity through enhanced transparency and accountability.
• Allow entities to demonstrate how they are discharging their legal, shareholder and ethical obligations.
• Provide a mechanism for benchmarking accountability.
• Assist in the prevention and detection of fraudulent, dishonest and/or unethical behaviour.

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