Corporate Governance
Corporate Governance in the State-sponsored Bodies is underpinned by the provisions of the "Code of Practice for the Governance of State Bodies" published by the Department of Finance in October 2001.
The Corporate Governance Unit is responsible for oversight of matters related to the governance of the commercial and non-commercial State-sponsored Bodies under the aegis of the Department. It provides an advisory and support role to line divisions and the Management Committee, as well as co-ordinating the Department's response to matters arising in this regard.
The Unit also has responsibility for all matters relating to remuneration and appointments of the Chief Executives of the State Bodies, and for remuneration of Chairpersons and members of the Boards. In addition the Unit acts as the Progress Verification Group in regard to the implementation of the Change and Modernisation agenda of "Sustaining Progress" and Towards 2016 in the non-commercial State-sponsored Bodies under the aegis of the Department.
As the sole shareholder or owner, the Department has ownership responsibility on behalf of the State to the people. For each of the sectors, the Government sets out the policy to be followed. The SSBs must implement this policy and the Department ensures that they are doing so in a fairs and transparent manner, within the terms of their legislation. The relevant Regulatory body also monitors this.
The Minister for Finance has overall responsibility for determining the remuneration and conditions of Chairpersons, Board members and Chief Executives of the State-sponsored Bodies under the aegis of the Department. The Corporate Governance Unit, with the relevant line divisions, administers matters in relation to these aspects in close consultation with the Bodies themselves. Details of the remuneration of Board Members and Chief Executives are published in the annual reports of each Body and can be accessed on their individual websites.
The non-commercial State-Sponsored Bodies' Modernisation Action Plans, for which the Corporate Governance Unit Unit acts as Performance Verification Group in close liaison with the relevant line divisions, can be accessed on the individual websites of each of the Bodies.
eGovernance.ie
www.eGovernance.ie is the new Corporate Governance tool which acts as an information management system for all State sponsored bodies under the aegis of the Department. The Company Secretaries of each board were assigned login details in April 2007 and are required to update the system with any changes pertinent to their board. eGovernance.ie is a tool which provides a defined and streamlined tracking system, accurate information and improves data reliability. The system generates the monthly vacancies report which is required by the Minister. It outlines current and upcoming board vacancies therefore it is imperative that all Company Secretaries update their own board information. Please visit www.eGovernance.ie to view this system. If you require any assistance please contact the helpdesk at eGovSupport@dcenr.ie.
Anne Ward
Corporate Governance Unit
Department of Communications, Energy and Natural Resources
Elm House, Cavan
Tel: + 353 1 678 3069