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What Does an Effective Audit Committee Actually Do? – Part 2

2016-11-21T17:42:20+00:00 January 19th, 2016|Governance|

In Part 1 of this post, we considered the role and functions of the audit committee in overseeing risk management and internal controls, and monitoring the effectiveness of internal and external auditors. In this post, we explore the practical arrangements which make the audit committee successful. Composition of the Audit Committee The UK Code states that [...]

What Does an Effective Audit Committee Actually Do?

2016-11-21T17:42:20+00:00 January 12th, 2016|Academies & Free Schools, Governance|

Part 1 - Role of the Audit Committee The audit committee makes up one of the three pillars of the Board committee system and forms a critical part of the overall framework of corporate governance for medium to large companies, housing associations, charities, academy trusts and public sector bodies. Experience shows that the role is not [...]

Top Ten Legal Risks for Enterprise and How to Manage Them

2016-11-21T17:42:20+00:00 January 6th, 2016|Governance|

As 2016 dawns, now is a good time to reflect on your business plans for the year ahead. Make some time to consider these legal risks and how you would manage them. A modest investment now could pay handsome dividends later. Get your company structure in order Are you using the optimum legal format for [...]

Consumer Rights Act Enhances Customer Rights – Traders Beware!

2016-11-21T17:42:21+00:00 December 11th, 2015|Contracts|

If you sell goods or services to individual consumers (rather than other businesses), you should be aware that consumer law changed on 1 October 2015, when the Consumer Rights Act came into force. The changes cover: what should happen when goods are faulty unfair terms in a contract what happens when a business is acting [...]

Employing Staff for First Time? Know Your Legal Duties!

2016-11-21T17:42:21+00:00 December 4th, 2015|Contracts, Governance|

Are you employing staff for the first time? It is vital to understand your legal duties. Starting a new enterprise is an exciting time. In due course you may think about employing staff to help you. It is vital to understand your responsibilities when taking on employees. Time spent getting your paperwork in order could [...]

Ten Top Tips for Successful Contracts

2016-11-21T17:42:22+00:00 November 25th, 2015|Contracts|

Effective and enforceable contracts are the lifeblood of any successful enterprise. Contracts with customers, service users, suppliers, employees, landlords, business partners and insurers all make up the matrix of payment flows, risk allocation and risk management tools which allow an enterprise to manage its cash flow, generate surpluses and remain solvent. Properly drafted contracts which [...]

Implementing a Winning Strategy – Practical Tips for Success

2016-11-21T17:42:22+00:00 November 13th, 2015|Governance|

One of the key tasks of any Board in the private, not-for-profit or public sector is to create a strategy for their organisation. Crafting and implementing strategy is inextricably linked to good governance and effective risk management. Strategy can be defined as ‘the direction and scope of an organisation over the long-term which achieves advantage in [...]

How to Choose the Right Legal Structure for Your Enterprise

2016-11-21T17:42:22+00:00 November 9th, 2015|Governance|

Choosing the right legal format for your project is a very important decision. From my work with inspiring entrepreneurs, community activists and visionary leaders over the past 21 years, I find there is always a thirst for knowledge about different legal structures and formats that can be used for entrepreneurial activity and community action. Whether you [...]

Why Managing Conflicts of Interest is Vital to Good Governance – Pt 2

2016-11-21T17:42:22+00:00 October 22nd, 2015|Governance|

How can conflicts of interest be managed? In the first part of this article, we looked at typical scenarios where conflicts of interest can occur and their possible consequences. In this post, we examine practical strategies for managing them. There are three steps to ensure conflicts are properly managed and undesirable consequences avoided. Identify the [...]

Why Managing Conflicts of Interest is Vital to Good Governance

2016-11-21T17:42:23+00:00 October 15th, 2015|Governance|

In this post we explore how to identify and manage conflicts of interest An effective system of corporate governance for any organisation must be underpinned by the three pillars of transparency, accountability and integrity. The public’s faith in corporate institutions has been repeatedly shaken by wrongdoing, impaired judgements and undue influence. Perceptions can be just [...]