Some of the principles of good governance are the same as other organisations, including the accountability of a board to the owners, the role that a board has in directing but not managing activity, the duty a board has in relation to setting culture and values, managing risk.
Other principles are unique to co-operatives, such as member voice, engagement and operating in accordance with the co-operative values and principles. In drafting this code we considered the UK Corporate Governance Code and the Wates Corporate Governance Principles – and applied those elements that apply to most organisations, while also ensuring that the code acknowledges the co-operative difference.
