London, 19 September 2023 –The Chartered Governance Institute of the UK and Ireland (CGIUKI) has launched its series of accreditation and training programmes to lift the standard for board performance reviews. Board performance reviews are a critical tool for boards, regardless of sector, to ensure continuous improvement in governance and board-level decision making. While more organisations are convinced of their merits there has never been a standard approach to ensuring reviewers have the necessary skills and are sufficiently competent at applying them until now. In addition, those commissioning reviews will now have one place to go to when sourcing the best reviewers for their needs, as well as education surrounding the board review procurement and facilitation process itself.
“Our purpose is to champion good governance and develop the value, skills and effectiveness of governance professionals because we believe that better governance drives better decision making and better decision making creates a better world. Board performance reviews are a fundamental tool for supporting and improving effective governance practice. I am confident this leads to more robust organisations, capable of making good decisions as well as enhancing trust amongst their stakeholders.
Well led board reviews ensure that boards are functioning at their peak, despite changing membership and ever-changing priorities. Our training and accreditation programmes will provide a trusted resource to find the right board review service as well as raising the standard of both commissioning and of the reviews themselves.” Sara Drake, CEO, CGIUKI
When carried out well, board performance reviews foster accountability, enhance decision making and help align strategic objectives. Board performance reviews are expected for listed companies and are increasingly used by organisations in other sectors to improve board effectiveness. Despite the growing use of board reviews, there has been little, if any, quality control over the providers of reviews. This has led to some scepticism in the market and in the media that they are good value for money.
As part of our core mission to raise standards of governance and in order to help mitigate these concerns, CGIUKI has created a suite of resources, alongside training courses and a directory of accredited suppliers to bring more assurance to the board performance review process.
The governance professional, board and board reviewer all have important roles to play in performing an effective board review.
CGIUKI has developed two training courses to support those conducting, procuring and facilitating board performance reviews. There is an introductory course for those who have no prior experience of board performance reviews which will introduce the principles and practice of an effective board review.
There is also an advanced course, for professionals with experience in procuring, facilitating or conducting board reviews. This programme will use practical examples and expert tuition to help delegates maximise the strategic value of board reviews, helping to solve common challenges through peer-to-peer learning and will offer a certificate to demonstrate knowledge. This course is also valuable to those professionals looking to begin conducting external reviews as a consultant.
In order to support those responsible for ensuring their Board is reviewed professionally, the Institute has created a directory of accredited board performance reviewers. These providers have demonstrated a high standard in undertaking of board performance reviews and are aligned to the Institute’s Code of Practice.
Both independent board reviewers and organisations which provide board performance reviews have paths towards accreditation and listing on the directory. All the listed accredited board reviewers have undergone and completed our rigorous accreditation process and align to our Code of Practice.
For further information, please contact David Mortimer, Head of External Affairs: firstname.lastname@example.org.
Notes to Editors:
The Chartered Governance Institute UK & Ireland is the professional body for governance and the qualifying and membership body for governance professionals across all sectors. Its purpose under Royal Charter is to lead ‘effective governance and efficient administration of commerce, industry and public affairs’ working with regulators and policy makers to champion high standards of governance and providing qualifications, training and guidance. As a lifelong learning partner, the Institute helps governance professionals to achieve their professional goals, providing recognition, community and the voice of its membership.
One of nine divisions of the global Chartered Governance Institute, which was established 130 years ago, The Chartered Governance Institute UK & Ireland represents members working and studying in the UK and Ireland and in many other countries and regions including the Caribbean, parts of Africa and the Middle East.
The word ‘Institute’ is one of the ‘sensitive words or expressions’ restricted under the Companies Act 2006. s1194(1) of the Act provides that “A person must not, without the approval of the Secretary of State, carry on business in the United Kingdom under a name that includes a word or expression for the time being specified in regulations made by the Secretary of State under this section.” As a Royal Charter body, The Chartered Governance Institute UK & Ireland is legally entitled to use this term and has no connection with other training providers with similar names, calling themselves an ‘Institute’ without the necessary approval to do so.