Governancekomitees
Governance committees (often referred to in German as Governancekomitees) are subcommittees established by a governing body, such as a board of directors or trustees, to oversee key aspects of governance within an organization. They operate under formal charters and report to the main board.
Purpose: to enhance oversight, policy development, and accountability in areas including internal controls, risk management, compliance,
Common types include the audit committee (financial reporting, internal controls, external audit), risk and compliance committee,
Composition and operations: typically comprised of independent directors or members with relevant expertise; require clear mandates,
Regulation and practice: in many jurisdictions governance codes or listing rules require certain governance committees; in
Benefits and challenges: governance committees can improve oversight, transparency, and risk management; they can also introduce