Corporate governance and compliance is a continuous process in the life of any San Diego corporation. But what exactly is corporate governance and compliance, and why is it important in these changing and increasingly competitive times? Corporate governance is basically defined as the way a corporation is run and managed, and the purpose behind the company’s existence. Corporate governance touches every aspect of the company and all who work for it, from the board room through executives and managers and ultimately throughout the work force. It primarily is focused upon the board of directors and executives and how they run and manage the company.
Corporate governance should address many aspects of corporate life including but not limited to:
- Financial reports
- Communication with employees and the shareholders of the corporation
- Board appointments and responsibilities
- The relationship between the company’s management and the board itself
- Risk management and ensuring the proper conduct of the company and its employees
- The performance of the company itself
Corporate governance and compliance is a continuous process working for improvement and based upon trust, accountability and ultimately transparency. Corporate governance and compliance should ensure regular updates of corporate documents and shareholders agreements. Security measures should be developed, implemented and monitored to protect the company and its assets and to ensure the legal, moral and ethical conduct of its employees and officers. Many corporations are focused upon “social responsibility” as well as the culture of the company and the dynamic vision which enlightens and drives the activity of all associates. The “vision” and “values” of your company should be clearly established and communicated throughout the organization to ensure consistent conduct and protection of the image of the company in the eyes of not only it’s customers, but suppliers and the general marketplace as well.
Compliance with all federal, state and local laws and regulations falls under this discussion as well. The experienced attorneys at the Watkins Firm provide sound general business counsel to our clients to help in the continuous development and implementation of governance and compliance. Corporate governance and compliance is a continuous process of refinement, improvement, clarification and transparency. We invite you to contact us or call 858-535-1511 to learn more about how the Watkins Firm can support your corporations efforts in these areas.