Firms equate governance with regulation, says PWC
LONDON – Financial institutions are failing to reap the potential strategic advantages of improved governance because they have equated good corporate governance with meeting the demands of regulators rather than improving the quality of management, according to a recent study by PricewaterhouseCoopers (PwC) and the Economist Intelligence Unit (EIU).
In the report, Governance: From compliance to strategic advantage, PwC concluded that the financial services industry is focusing too much on compliance with the regulatory minimum, and that companies needed to "raise the bar higher" to realise the business advantages that good governance can bring.
The finding is based on responses from a global survey of more than 200 senior executives in the
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