Factsheet - Corporate Governance Responsibility Assignment Matrix

Factsheet

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Author

IIA-Australia

Date

2023

Topics Explored

Governance

Format

Factsheet

Extract/Description

The governing body of an organisation is ultimately responsible for an organisation’s governance. In a company, this will be the board of directors. In the public sector where there is not a board of directors, governance arrangements are implemented by the head of the organisation.  The processes and structures implemented by the governing body is called corporate governance.

Key Points

1. A RACI is a responsibility assignment matrix often used in project management, but could also have application to corporate governance.

2. A governance RACI could be considered to ensure there is shared understanding and accountability for who should be Responsible / Accountable / Consulted / Informed.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

No