Code of Practice for the Governance of State Bodies 2009
Corporate governance comprises the systems and procedures by which enterprises are directed and managed. State bodies must serve the interests of the taxpayer, pursue value for money in their endeavours (including managing risk appropriately), and act transparently as public entities. The Board and management should accept accountability for the proper management of the organisation. High standards of corporate governance in all State Agencies, whether in the commercial or non-commercial sphere, are critical to ensuring a positive contribution to the State’s overall economic efficiency and competitiveness. The Department of Finances Code of Practice for the Governance of State Bodies 2009, provides a framework for the application of best practice in corporate governance by both commercial and non-commercial State bodies.