HOW TO INTERGRATE THE EXTERNAL REQUIREMENTS INTO INTERNAL GOVERNANCE



INTEGRATING THE EXTERNAL REQUIREMENTS INTO INTERNAL GOVERNANCE

It is proper to integrate the external governance requirements given by different external laws and regulation into an organization’s internal governance. The integration process involves the interpretation of external governance requirements.


This is done as follows;



HOW TO INTERGRATE THE EXTERNAL REQUIREMENTS INTO INTERNAL GOVERNANCE



1.     Know the External Governance Requirements


External governance requirements originate from laws and regulations and regulatory setting organizations of which, depending on the sector or specialization in question, the laws and regulations from regulatory organizations propose principles, rules and methodologies that are aimed at increasing integrity of processes  and  the reliability of quantitative and qualitative information presented to stakeholders.

2.     Translate External Governance Requirements into Internal Governance


The  translation  of  external  governance  requirements  (i.e.  laws  and  regulations)  means  to adopting and embedding these externally driven rules and regulations into internal practices and processes. Such external laws and regulations are vast and can either be specific to the organization or to a particular type of transaction hence applicable to different organizations.

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