Code of Practice for the Governance of State Bodies
The Department of Public Expenditure & Reform a revised Code of Practice for the governance of state bodies in August 2016. See the full text of the code.
The revised and updated Code of Practice for the Governance of State Bodies (2016) is designed to ensure that both commercial and non-commercial State bodies meet the highest standards of corporate governance. It provides a framework for the application of best practice and is intended to take account of developments in respect of oversight, reporting requirements and the appointment of Board members. The Code is based on the underlying principles of good governance: accountability, transparency, probity and a focus on the sustainable success of the organisation over the longer term.
The updated Code of Practice for the Governance of State Bodies (2016) is split into a suite of documents comprising of the main Code and more detailed documents setting out the Code requirements as follows:
- Code of Practice for the Governance of State Bodies
- Business and Financial Reporting Requirements
- Audit and Risk Committee Guidance
- Remuneration and Superannuation
- Board Self-Assessment Evaluation Questionnaire
For commercial State bodies the oversight agreement between the relevant Minister/parent Department and the State body is the Shareholder Expectation Letter. A model Shareholder Expectation Letter is included for information: Model Shareholder Expectation Letter.
The press release for the launch of the Code of Practice.
A list of the significant changes in the 2016 version of the Code of Practice from the 2009 version.
The Code of Practice for the Governance of State Bodies (2009) is provided for reference.
Standards in Public Office Commission
Members of Boards of State Bodies are required to furnish annually a statement of any registrable interests and those of a spouse or child (or a child of a spouse) which could materially influence them in, or in relation to, the performance of their functions. The Statement of Interest forms are published by Department of Public Expenditure and Reform. Further details on registrable interests and on the work of the Commission are available at www.sipo.gov.ie