EXAMINING THE ELEMENTS OF GOVERNANCE ARRANGEMENTS: THE CASE OF A BUSINESS AND ACCOUNTANCY SCHOOL IN CENTRAL LUZON, PHILIPPINES

Author Name: Dr. Arnold V. Salcedo

Volume/Issue: 02/01

Country: Philippines

DOI NO.: 08.2020-25662434 DOI Link: https://www.doi-ds.org/doilink/07.2021-72144355/UIJIR

Affiliation:

Associate Professor, Department of Accountancy, Holy Angel University, Angeles City, Philippines

ABSTRACT

This paper provides an examination of the elements concerning the governance arrangements unique to one business and accountancy school in Central Luzon, Philippines, based on its current governance team. This study was also carried out to determine which of the elements in the governance arrangements is considered as the strengths and weaknesses of the school using the using the Australian Public Service Commission’s for Building Better Governance (2018) as a framework, through a survey of twenty-eight (28) full-time faculty members both for graduate and undergraduate schools covering an academic year. It was found out that leadership, culture, and communication is the strongest governance element that even with those already in-charge with governance or newly appointed management staff may be regarded to be the most prime. While comprehensive risk management and assurance systems, could be an area of improvement. Such can be achieved through the creation of an internally standardized quality assurance system to facilitate processes and decision making. It is recommended that team building, and technical workshops activities that could foster leadership-subordinate coordination, strengthen relationships, align action plans to key strategic objectives, and promote process improvements to enforce controls be held. Renewal of key management positions instead of annual replacement of governance roles can be a better alternative. Finally, the creation and implementation of a comprehensive risk management system through identified key responsibility centers that along will in create a fortified internal controls system to minimize the financial and non-financial risks to the academic institution must be reinforced.

Key words: Good governance, Governance, Governance arrangements, School governance