No organisation can operate without governance. Corporations are organisations which bring people with diverse cultures, styles and attitudes together for a common purpose. The only way such diverse groups can operate effectively is by applying sound governance principles. These bind people together towards common goals and common ways of doing things in order to secure trust and controls leading to success. Governance provides a safe set of rules with which all members of organisations abide in the execution of their day to day work. This ensures conformity and consistency both internally and externally in the market without in any way stifling creativity. Indeed, benchmark practice encourages innovation and its flourishing in a secure and lasting fashion without having to resort to undesirable practice.

The name may mislead one into thinking that corporate governance is only for complex organisations whereas in reality corporate governance can apply in proportionate terms to every business and can lead smaller businesses to gradually move into more sophisticated ground where to grow their business.  Corporate governance is not only found in the regulatory realm either.  Family business would do well to adopt corporate governance principles in order to achieve standing and differentiation in society.  The adoption of these principles can be piecemeal whereby a family business can progressively adopt rules recognising stakeholder interests at the same time generating stature.

We will follow the subject from its inception with the Cadbury report which sees corporate governance as the system, into OECD development as a relational exercise between the various interested parties in a corporation, into the more modern aspects of law and regulation around the subject emanating from scandals and corporate governance breaches.

This session is appropriate for all members of the business community with a passion for, and belief in, the need to do things right and strive to develop, and assist with the development of, sustainable long term business.

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Mario P Galea is a certified public accountant holding a warrant to practice both as an accountant and as an auditor.  Currently practising as a business advisor providing governance oversight and advisory services to businesses and corporations.  Serves as an independent non-executive director on the boards and audit committees of various listed companies in the financial and commercial sectors.  Mentor and advisor to family businesses. Founder, managing partner and chairman of accountancy and audit firm EY in Malta until retirement in 2012.  Specialised in auditing and assurance which he has practiced for 35 years in Malta and abroad.  Lectured in auditing, assurance and professional and business ethics and led several training courses.  Speaker at various business and professional conferences in Malta and abroad.  Assisted businesses in several areas particularly relating to governance, accounting and systems of control.  Served as President of the Malta Institute of Accountants and for many years formed part of the Accountancy Board which is the accountancy profession regulator in Malta.  Served on various professional committees in Malta and abroad such as the council of the Federation des Experts Comptables (FEE) in Brussels (now Accountancy Europe).  Member of the Ethics and Regulatory committees of the Malta Institute of Accountants in Malta.

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