10.10. Systematizing Governance
Finance, as you've seen, plays a key role in the overall governance of the enterprise. As such, it follows and supports the governance approach adopted throughout the company. That is, Finance should set clear objectives and policies related to its charter and supported by its internal processes. Next, it should put in place controls that help ensure that these policies are followed as well as monitor them on an ongoing basis so that failures can be identified quickly. And, finally, it should define, measure, and monitor the risk associated with noncompliance with these policies.
The best way for Finance to do this is by embedding its governance principles within the organization's culture, processes, controls, ...
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