Volume One: Corporate Governance in Principle, considers relations between the Government and boards, and the extent to which boards add value. Various public sector governance models are examined, including those currently operating within NSW and those from five other jurisdictions.
It found the role of boards should be clearly defined, and specific criteria developed, so that boards can be clearly classified as either governing or advisory. Legislation should be reviewed targeting priority areas and policies developed to clarify and strengthen the respective role and functions for governing and advisory boards.
Governance models, legislation, policies and practices should be based on principles of simplicity, clarity and consistency in approach; provide boards with sufficient and clearly defined powers and authority for them to carry out their statutory role and there should be a corresponding appropriate level of public accountability.