Beyond systems, processes and controls

These three need to be implemented with a clear understanding of purpose

The efficiency of corporate governance rests on the effective functioning of the totality of the systems, processes and controls and on the people behind them. The substance of this article is not about what these are or should be — for there is enough documentation on that — but what lies behind these and why these often do not work. First let me continue for a while on the definition of corporate governance — the theme of my previous article (July 13) — simply because the more I wade through the literature on the subject, the more confused I am