Chapter 2 Approaches to corporate governance
  1. Distinguish between public company, private company and NPO
  <1> Principal stakeholders and accountability
  a. Public company: Shareholders
  b. Private company: Shareholders
  c. NPO: Donors, fund providers, regulators, general public, members
  <2> Monitor and disclosure
  a. Public company: F/S
  b. Private company: F/S
  c. NPO: F/S, other financial and non-financial measures
  <3> Structure of board (corporate governance)
  a. Public company: Executive directors and NEDs, appointment through formal process in line with governance requirements
  b. Private company: Executive directors, appointment may be the result of shareholding or other recruitment processed.
  c. NPO: Executive board and stakeholder board, appointments through recruitment or recommendation process
  <4> Transparency
  a. Public company: In line with corporate governance requirement
  b. Private company: Limited disclosure requirement
  c. NPO: Limited disclosure requirements due to methods of funding, but it must ensure all funds are used appropriately, in accordance with organizations’objective and corporate governance requirement.
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