New competency framework to drive higher standards in corporate governance

October 25, 2023

A new competency framework to drive higher standards in corporate governance is being launched today by the Institute of Directors.

The new Continuing Professional Development (CPD) Framework has been introduced in response to the ever-evolving policy, regulatory, macro-economic and governance environment in Ireland.

It is designed to foster improved collective board strength and responsibility, the IoD says.

The framework is aimed primarily at directors, senior executives and board members.

“This new framework is designed to foster the highest corporate governance standards in Ireland at a time when directors, senior executives and boards face ever evolving corporate demands and challenges,” IoD Ireland President John Reynolds said.

“IoD Ireland, as the representative body for directors in Ireland, supports directors and boards to respond to their internal and external environment so they can best serve their companies,” he added.

The new framework is the first of its kind in Ireland and is designed to act as an enabler for individual directors and boards in identifying the necessary skills and expertise needed to direct and control their company, and support with board succession planning and development.

The new framework will be discussed at the IoD’s ‘Leading in Governance’ conference which takes place in the Aviva Stadium this evening.

“Skills development, transparency and good corporate governance are the bedrocks upon which healthy economic activity is based,” Minister for Enterprise, Trade and Employment Simon Coveney said.

“By developing and enhancing the competence and expertise of those charged with governance, this new suite of supports will advance the quality and performance of organisations across Ireland, driving our competitiveness, and strengthening our economy,” he added.

Article Source: New competency framework to drive higher standards in corporate governance – Brian Finn – RTE

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