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Governance Objectives of the Governance Model for Trusted Businesses


The well established and recognized control frameworks and process reference models could be used for implementing and evaluating effective and efficient enterprise governance, if only the management established its own governance related objectives. Unfortunately, structures of generic control frameworks and reference models promoted by assurance professional bodies are not easily interpretable by enterprise management for setting their business’ specific governance objectives.

The Governance Model for Trusted Businesses keeps both enterprise management and assurance (e.g. audit) logics in mind by presenting governance processes in line with the objectives relevant for enterprise management, together with an exact mapping to processes of control frameworks (reference models) accepted and used by assurance providers (e.g. auditors) for compliance attestation.

The Governance Model aims 11 governance objectives:


Supporting Business Sustainability:

Supporting Organization’s Internal Control System:

Competitiveness

Accountability

Commitment

Risk Awareness

Control Efficiency

Exploitability

Process Integrity

Competency

Satisfaction

Accuracy

Data Protection


While business sustainability objectives are significant for keeping business operation economically effective and successful, the organization’s internal control objectives have the major focus on how effectively internal control system is enabling achievement of strategic, operational effectiveness, reliability and business process performance related Enterprise Goals. Each governance objective should be determined in context of the specific organizational or operational level by considering the adequate time-horizon. The governance objectives should be supported by “Usefulness” and “Efficiency” measures and other risk criteria for improving business processes and management activities within the enterprise governance framework.

 

 

 


 

 

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bgf


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AMCHAM


ECQA

NIH

EIT

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education and culture


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