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Compliance refers to adhering with the mandated boundaries (laws and regulations) and voluntary boundaries (company's policies, procedures, etc.). [ 9 ] [ 10 ] GRC is a discipline that aims to synchronize information and activity across governance, and compliance in order to operate more efficiently, enable effective information sharing, more ...
Policy Governance, informally known as the Carver model, is a system for organizational governance. Policy Governance defines and guides appropriate relationships between an organization's owners, board of directors, and chief executive. The Policy Governance approach was first developed in the 1970s by John Carver who has registered the term ...
According to this category, effective governance is composed by five aspects: the quality of public services, the quality of the civil service, the degree of the government's independence from political pressures, the quality of policy formulation and implementation, and the credibility of the government's commitment to such policies. [22]
In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Compliance has traditionally been explained by reference to deterrence theory , according to which punishing a behavior will decrease the violations both by the wrongdoer (specific deterrence) and by others (general deterrence).
Legal compliance is the process or procedure to ensure that an organization follows relevant laws, regulations and business rules. [5] The definition of legal compliance, especially in the context of corporate legal departments, has recently been expanded to include understanding and adhering to ethical codes within entire professions, as well.
Governance frameworks are the structure of a government and reflect the interrelated relationships, factors, and other influences upon the institution. [1] Governance structure is often used interchangeably with governance framework as they both refer to the structure of the governance of the organization. [ 2 ]
Ansell and Gash (2008) define collaborative governance as follows: [7] 'A governing arrangement where one or more public agencies directly engage non-state stakeholders in a collective decision-making process that is formal, consensus-oriented, and deliberative and that aims to make or implement public policy or manage public programs or assets'.
Writers concerned with regulatory policy in relation to corporate governance practices often use broader structural descriptions. A broad (meta) definition that encompasses many adopted definitions is "Corporate governance describes the processes, structures, and mechanisms that influence the control and direction of corporations." [1]