AU2014399878A1 - Governance reporting method and system - Google Patents

Abstract

Disclosed herein are a governance reporting method and system. The governance reporting method (100) includes the steps of identifying a set of governance items relating to an entity (110) and classifying those governance items into a set of three predefined governance areas (115). The governance areas include strategic governance items, identified risks, and emerging trends. Strategic governance items are risks associated with delivering predefined goals of the entity, identified risks are identified threats to be managed, and emerging trends are trends relevant to the entity that are to be monitored. The governance reporting method stores each governance item with an associated set of attributes (120) and generates a report for a selected one of said stored governance items (130), wherein said report is based on the set of attributes associated with the selected governance item.

Description

WO 2016/000010 1 PCT/AU2014/000683

GOVERNANCE REPORTING METHOD AND SYSTEM

Technical Field [0001] The present disclosure relates to a method and system for governance reporting. Background [0002] Governance refers to a method or system for governing an entity. The concept of governance applies to many different entities, including, but not limited to, families, tribes, companies, partnerships, trusts, sporting and leisure organisations, societies, governments, and charities.

[0003] Governance may include formal or informal processes and decisions that define actions to be undertaken, record actions that have been performed, grant and remove power, and monitor and verify performance. The processes may include or be dictated by policies, customs, and laws associated with or applicable to the particular entity. It will be appreciated that the manner in which the processes are defined will vary depending on the nature of the entity. For example, a national government of a country typically has numerous legislative provisions that control the manner in which a representative is elected and define the powers granted to that representative. In contrast, a iocai book dub may have no formal structure, written policy, or constitution.

[0004] In a corporate environment, governance typically includes a set of policies and structures that define relationships among stakeholders, establish goals, and record actions. The policies and structures typically reflect Input from legislated requirements and input from a stated corporate goal or mission statement. The stakeholders may include, for example, shareholders, management, and a board of directors. The structure defines relevant rights and responsibilities throughout the entity and provides rules and procedures for making decisions to pursue one or more stated corporate objectives.

[0005] As governance defines responsibilities of various parties, so too does governance define accountability of those parties. Accordingly, good governance indudes periodic record keeping to record and monitor stated objectives, action points, identified risks, and the like. Such record keeping can include, for example, meeting agendas, meeting minutes, and annual reports. WO 2016/000010 2 PCT/AU2014/000683 [0006] Typically, meeting agendas and minutes are prepared and distributed by a company secretary or other authorised representative. The form and content of such agendas and minutes varies from entity to entity.

[0007] Different entities have varying degrees of reporting responsibilities. Such reporting responsibilities may include reports to a stock exchange, to a taxation authority, government licensing authority, or the tike. Further, a person having a position of authority within an entity may be accountable for compliance of the entity with one or more governance policies. In order to ensure that responsibilities are executed effectively and that persons in positions of authority not oniy act appropriately but can show that: they have acted appropriately, it is important to implement a reliable governance reporting system.

[0008] Existing governance reporting systems typically include the issuance of meeting agendas and minutes and annual or periodic board reports. However, existing governance reporting systems typically produce large reporting documents comprising many pages, sometimes in the hundreds of pages, which are to be read and affirmed at scheduled meeting times.

[0009] Existing governance reporting systems classify governance items in order of priority, but fail to identify and classify governance items in a meaningful way that can be readily sorted, reviewed, monitored, and, if necessary, escalated, [0010] Thus, a need exists to provide an improved method and system for governance reporting.

Summary [0011] The present disclosure relates to a computer-implemented governance reporting method and system for use in assisting governance of an entity.

[0012] In a first aspect, the present disclosure provides a computer-implemented governance reporting method comprising the steps of: identifying a set of governance items relating to an entity; classifying said governance items into a set of predefined governance areas, said governance areas including strategic governance items, identified risks, and emerging trends, wherein strategic governance items are risks associated with delivering predefined goals of the entity, WO 2016/000010 3 PCT/AU2014/000683 identified risks are identified threats to be managed, and emerging trends are trends relevant to the entity that are to be monitored; storing each governance item with an associated set of attributes; and generating a report for a selected one of said stored governance items, wherein said report is based on the set of attributes associated with the selected governance item.

[0013] In a second aspect, the present disclosure provides a governance reporting system, comprising: a server including: a processor; a storage device for storing a computer program that when executed on said processor performs the steps of: receiving a set of governance items relating to an entity; classifying said governance items into a set of predefined governance areas, said governance areas including strategic governance items, identified risks, and emerging trends, wherein strategic governance items are risks associated with delivering predefined goals of the entity, identified risks are identified threats to be managed, and emerging trends are trends relevant to the entity that are to be monitored; storing, in said storage device, each governance item with an associated set of attributes; generating a report for a selected one of said stored governance items, wherein said report is based on the set of attributes associated with the selected governance item.

[0014] According to another aspect, the present disclosure provides an apparatus for implementing any one of the aforementioned methods, [0015] According to another aspect, the present disciosure provides a computer program product including a computer readable medium having recorded thereon a computer program for implementing any one of the methods described above.

[0016] Other aspects of the present disclosure are also provided. WO 2016/000010 4 PCT/AU2014/000683

Brief Description of the Drawings [0017] One or more embodiments of the present disclosure will now be described by way of specific example(s) with reference to the accompanying drawings, in which: [0018] Fig, 1 is a flow diagram illustrating a method of governance reporting; [0019] Fig. 2 is a schematic representation of a system on which one or more embodiments of the present disclosure may be practised; [0020] Fig. 3 is a schematic block diagram representation of a system that includes a general purpose computer on Which one or more embodiments of the present disclosure may be practised; [0021] Fig. 4 is a schematic block diagram representation of a system that includes a general smartphone on which one or more embodiments of the present disclosure may be practised; [0022] Fig. 5 is a schematic block diagram representation of flow of information in relation to a governance reporting system; [0023] Fig. 6 is a schematic representation illustrating storage of entities and related information in an entity database of a governance reporting system; [0024] Fig. 7a is a schematic block diagram representation of a report produced by foe governance reporting system based on a strategic governance item; [0025] Fig. 7b is a screenshot of a report based on a strategic governance item; [0026] Fig. 7c is an enlarged view of the matrix of the screenshot 750 of Fig. 7b; [0027] Figs 7d and 7e are user interfaces for customising the matrix 710 of Fig. 7a; [0028] Figs 8a to 8d are schematic block diagram representations of a graphical user interface presented to a user of a governance system; [0029] Fig. 9 is a screenshot of a sample tactical plan 900; [0030] Figs 10a to 10c are screenshots of sample agenda input screens; [0031] Fig. 11 is a screenshot of a graphical user interface presented to a user to manage an agenda for a meeting; [0032] Fig. 12 shows the report 700 of Fig. 7a, illustrating one implementation of displaying cascaded controls. WO 2016/000010 5 PCT/AU2014/000683

Detailed Description [0033] Method steps or features in the accompanying drawings that have the same reference numerals are to be considered to have the same function(s) or operation(s), unless the contrary intention Is expressed or implied, [0034] The present disclosure provides a computer-implemented governance reporting method and system that provides a framework to support a leadership team (such as a committee, board, or executive team) in an entity to discharge their governance obligations: to stakeholders of that entity, by identifying key issues relevant to the entity and addressing those issues on a regular, periodic basis and in the context of proper governance. Such an entity may be, for example, but is not limited to, a company, a partnership, a trust, a sporting organisation, a leisure organisation, a society, a government, a charity, or the like. A leadership team may include one or more persons, depending on the implementation and structure of the relevant entity.

[0035] The framework provides a mechanism to monitor implementation of a strategic pian associated with the entity, oversee identified risks, and alert the leadership team to any changing trends that may be either a significant risk or lost opportunity to the entity. Further, the framework enables reporting on governance items to be actioned or implemented by one or more sub-entities. This enables the leadership team of the entity to cascade responsibility for governance items downwards through sub-entities and still be able to monitor the status of those governance items.

[0036] The governance reporting method of the present disclosure receives a set of governance items relating to an entity and classifies those governance items into three predefined governance areas: (i) strategic governance items; (ii) identified risk Items; and (iii) emerging trends. Classifying governance items into one of these three governance areas enables governance items to be monitored and actioned appropriately.

[0037] The governance reporting method stores each governance item with an associated set of attributes, whereupon the governance reporting method is adapted to produce reports based upon the stored governance items. Further, storing copies of reports over time allows an authorised user to review governance items and associated goals, actions, controls, projects, and measures over time. The ability to review historic reports enables a leadership team to review actions that resulted in positive outcomes and seek to apply similar strategies to other identified risks. Conversely, the leadership WO 2016/000010 6 PCT/AU2014/000683 team can review actions that resulted in negative outcomes and seek to apply new controls, projects, and measures to avoid repeating such negative outcomes, [00383 Strategic governance items are defined to be risks associated with delivering predefined goals and capitalising on key opportunities. Strategic governance items may be considered to be those items that are required to implement a strategic plan of an entity. Identified risks are identified threats that need to be managed. Each strategic governance item and identified risk is stored with a set of attributes that includes a set of controls, a set of projects, and a set of measures. Each control is an existing mitigation that is being implemented to address the governance item. Each project relates to an action to minimise a risk and/or likelihood associated with the governance item. Each measure defines an outcome that provides a quantifiable way in which to assess achievement of a stated goal associated with a governance item.

[0039] Emerging trends are trends relevant to the entity that need to be monitored.

Each emerging trend is stored with a set of attributes that includes a set of strategies to manage likelihood of the respective trend and a set of strategies to manage impact of the respective trend. Each emerging trend is associated with a likelihood and an impact. The governance reporting method alerts the leadership team in relation to an emerging trend once the likelihood of the emerging trend, the impact of the emerging trend, or a combination thereof exceeds a predefined threshold.

[0040] Classifying governance items into the three noted governance areas establishes a framework for monitoring and reporting on those governance items in a way that provides a leadership team with clear visibility of the status of each governance item, risks associated with each item, and associated controls and projects. Further, the framework facilitates the generation of agendas and meeting minutes, based on the stored governance items. The system also provides effective tracking and review of board action items and resolutions, wherein the board action items and resolutions are associated with one or more agenda items. Each agenda item may be associated with a governance item.

[0041] Fig. 1 is a flow diagram illustrating a method 100 of governance reporting in accordance with the present disclosure. The method 100 begins at a Start step 105 and proceeds to step 110, which receives a set of governance items relating to an entity. In one arrangement, the set of governance items is provided in one or more electronic documents, such as spreadsheets or word-processing tables, uploaded by a user to a 7 WO 2016/000010 PCT/AU2014/000683 system implementing the governance reporting method. In an alternative arrangement, the governance items are input manually into a system implementing the governance reporting method, in a further arrangement, a system implementing the governance reporting method includes a first computer coupled to a communications network and accessible by an authorised user using a second computer coupled to the communications network, wherein the first computer transmits a "wizard" interface to be displayed on a display unit of the second computer, wherein the wizard guides the authorised user to provide relevant information relating to governance items, [0042] Control passes from step 110 to step 115, which classifies the received governance items into one of three defined groups: (i) strategic governance items; (ii) identified risk items; and (iii) emerging risk items. In an alternative arrangement, each governance item is pre-dassified into the three defined groups and the input includes an identifier for each governance item corresponding to the group to which that governance item has been classified. Step 120 stores each strategic governance item and each risk item as a record with an associated set of controls, set of projects, and set of measures. Step 120 stores each emerging trend as a record with a set of likelihood management initiatives and a set of impact management initiatives. At this point, each received governance item has been classified and stored as a respective record in a storage medium assodated with the governance reporting method.

[0043] Control passes to step 125, in which an authorised user assodated with the entity accesses a system implementing the governance reporting method. Access to the system may involve an authentication process wherein a username and password provided by the user is checked with a list of authorised users and their associated usernames and passwords. In step 130, the governance reporting method presents a user interface to a display on a computing device accessed by the authorised user. The user interface provides the authorised user with one or more controls for accessing features of the governance reporting method. Such an interface may allow the user to select a particular entity with which the user is associated, select one or more modules for applying different functions to the stored governance items, access individual governance items, or generate one or more reports, In this example, the user interface provides an interface enabling the authorised user to select any one of the governance Items, [0044] In step 135, the authorised user selects a governance item and, in response, the governance reporting method in step 140 displays a report on the selected governance WO 2016/000010 8 PCT/AU2014/000683 item. The report is able to be printed, emailed, and saved. If the selected governance item is a strategic governance item or a risk item, the report includes the set of controls, set of projects, and set of measures associated with the selected governance item. If the selected governance item is an emerging trend, the report includes the set of likelihood management initiatives and the set of impact management initiatives associated with that emerging trend.

[0045] In one arrangement, each report inciudes a matrix that provides a graphical representation of a set of risks associated with the selected governance item. In one implementation, each strategic governance item and risk item is associated with an optional set of mapped risks to be displayed on such a matrix, wherein the set of mapped risks includes an inherent risk, a residual risk, and a target risk. In such an arrangement, the matrix provides a visual representation of the inherent, residual, and target risks associated with the particular governance item.

[0046] Control passes to a first decision step 145, in which the authorised user is able to edit the selected item. If the authorised user chooses to edit the selected item, Yes, control passes to step 150, in which the user selects and edits the relevant control, project, or measure associated with the selected governance item. Depending on the implementation, the user is able to optionally add or delete a control, project, or measure, or delete the entire selected governance item. Control returns to step 140, in which the governance reporting method displays a report on the selected governance item, reflecting changes made during step 150. Returning to step 145, if the user chooses not to edit the selected item, No, control passes to a second decision step 155, in which the user chooses whether to close the selected governance item. If the user chooses to close the selected governance item, Yes, control returns to step 130, If the user chooses not to dose the selected governance item, No, control returns to step 140.

[0047] Thus, the governance reporting method provides an interface for authorised users associated with an entity to view and manage governance items associated with that entity and view and print reports relating to governance items.

[0048] Fig. 2 is a schematic block diagram representation of a system 200 for implementing the governance reporting method 100 of Fig. 1. The system 200 includes a server 210 that is coupled to a communications network 290. The server 210 is presented as a single functional component. However, it will be appreciated that the WO 2016/000010 9 PCT/AU2014/000683 server 210 may be implemented using one or more computing devices co-located in a single premises or distributed across a networked computing environment, [0049] The server 200 includes an entity database 212 for storing information relating to each entity registered with the governance reporting system. Each entity is stored as a record with an associated profile, wherein the profile includes a set of entity attributes. The set of attributes may include, for example, a name of the entity, address, contact details, registered business number, and registered company number. The set of entity attributes also includes a list of authorised users associated with the entity, Each authorised user is allocated a username and password for accessing the governance system implemented using the server 201. Further, each authorised user is assigned a permission level. Different permission levels are available to the entity to control the viewing permissions and editing permissions available to each authorised user.

[0050] Some entities are implemented using a flat hierarchical structure, in which a single leadership team governs the entity. Other entities are structured using multiple levels, For example, a national sporting organisation is implemented with a national leadership team that oversees management of that sport within the country. At a first sub-level, that national sporting organisation has a number of provincial organisations responsible for management of that sport within the respective provinces. Further, each provincial organisation has a plurality of district organisations, and each district organisation has a number of member clubs. In such a model, the overall entity has four management levels and it is important that the leadership team of the national sporting organisation is able to monitor governance items that are, in fact, the responsibility of a lower-level sub-entity, such as a member dub. The entity database 212 stores, for each entity, a cascading network representative of the reporting structure implemented within that entity.

[0051] The entity database 212 also stores, for each entity, a set of governance items received in relation to the respective entity. The server 201 also includes an analytics module 214, which parses the set of governance items received in relation to an entity and classifies those governance items into one or three predefined governance areas, as described above. In an alternative arrangement, the entity classifies each governance item and provides each governance item with a classification identifier indicating to which governance area that governance item belongs. WO 2016/000010 10 PCT/AU2014/000683 [0052] The server 201 also includes a reporting module 216 for generating reports relating to each governance item, and tactical plans based on milestones associated with the stored governance items. Further, the server 201 includes an alerts module 218 that generates alerts to relevant authorised users when an emerging trend associated with an entity has an impact, likelihood, or combination thereof, that exceeds a predefined aiert threshold.

[0053] In the example of Fig. 2, the governance reporting method is implemented as a system for supporting governance of a district rugby organisation 202, wherein the district rugby organisation has a leadership team 220 comprised of a board of //members and the district rugby organisation has a set of clubs 206 registered with that organisation.

[0054] The governance reporting system 200 includes a leadership team 220 comprising a set of n members 221,..., 22// that use corresponding computing devices 231,..., 23/7 coupled to the communications network 290 to communicate with the server 201.

Further, the set of clubs 206 has m members 241,..., 24/77that use corresponding computing devices 251,..., 25/77 coupled to the communications network 290 to access the governance system implemented using the server 201.

[0055] The system 200 also includes an authorised administrator 260, who uses a computing device 265 coupled to the communications network 290 to access the governance system implemented by ttie server 201. Further, in this example the leadership team is advised by an external adviser 270, who uses a computing device 275 coupled to the communications network 290 to access the governance system implemented by the server 201.

[0056] The governance reporting system of the present disclosure may be practised using a computing device, such as a general purpose computer or computer server.

Fig. 3 is a schematic block diagram of a system 300 that includes a general purpose computer 310. The genera! purpose computer 310 includes a plurality of components, including: a processor 312, a memory 314, a storage medium 316, input/output (I/O) interfaces 320, and input/output (I/O) ports 322. Components of the general purpose computer 310 generally communicate using one or more buses 348.

[0057] The memory 314 may be implemented using Random Access Memory (RAM), Read Only Memory (ROM), or a combination thereof. The storage medium 316 may be implemented as one or more of a hard disk drive, a solid state "flash" drive, an optical 11 WO 2016/000010 PCT/AU2014/000683 disk drive, or other storage means. The storage medium 316 may be utilised to store one or more computer programs, including an operating system, software applications, and data. In one mode of operation, instructions from one or more computer programs stored in the storage medium 316 are loaded into the memory 314 via the bus 348. Instructions loaded into the memory 314 are then made available via the bus 348 or other means for execution by the processor 312 to effect a mode of operation in accordance with the executed instructions, [0058] One or more peripheral devices may be coupled to the general purpose computer 310 via the I/O ports 322, in the example of Fig. 3, the general purpose computer 310 is coupled to each of a speaker 324, a camera 326, a display device 330, an input device 332, a printer 334, and an external storage medium 336. The speaker 324 may be implemented using one or more speakers, such as in a stereo or surround sound system.

[0059] The camera 326 may be a webcam, or other still or video digital camera, and may download and upload information to and from the general purpose computer 310 via the I/O ports 322, dependent upon the particular implementation. For example, images recorded by the camera 326 may be uploaded to the storage medium 316 of the general purpose computer 310. Similarly, images stored on the storage medium 316 may be downloaded to a memory or storage medium of the camera 326. The camera 326 may include a lens system, a sensor unit, and a recording medium.

[0060] The display device 330 may be a computer monitor, such as a cathode ray tube screen, plasma screen, or liquid crystal display (LCD) screen, The display 330 may receive information from the computer 310 in a conventional manner, wherein the information is presented on the display device 330 for viewing by a user. The display device 330 may optionally be implemented using a touch screen to enable a user to provide input to the general purpose computer 310. The touch screen may be, for example, a capacitive touch screen, a resistive touchscreen, a surface acoustic wave touchscreen, or the like.

[0061] The input device 332 may be a keyboard, a mouse, a stylus, drawing tablet, or any combination thereof, for receiving input from a user, The external storage medium 336 may include an external hard disk drive (HDD), an optical drive, a floppy disk drive, a flash drive, or any combination thereof and may be implemented as a single WO 2016/000010 12 PCT/AU2014/000683 instance or multiple instances of any one or more of those devices. For example, the external storage medium 336 may he implemented as an array of hard disk drives.

[0062] The I/O interfaces 320 facilitate the exchange of information between the general purpose computing device 310 and other computing devices. TheT/O interfaces may be implemented using an internal or external modem, an Ethernet connection, or the like, to enable coupling to a transmission medium. In the example of Fig. 3, the I/O interfaces 322 are coupled to a communications network 338 and directly to a computing device 342. The computing device 342 is shown as a personal computer, but may be equally be practised using a smartphone, laptop, or a tablet device. Direct communication between the general purpose computer 310 and the computing device 342 may be effected using a wireless or wired transmission link.

[0063] The communications network 338 may be implemented using one or more wired or wireless transmission links and may include, for example, a dedicated communications link, a local area network (LAN), a wide area network (WAN), the Internet, a telecommunications network, or any combination thereof. A telecommunications network may include, but is not limited to, a telephony network, such as a Public Switch Telephony Network (PSTN), a mobile telephone cellular network, a short message service (SMS) network, or any combination thereof. The genera! purpose computer 310 is able to communicate via the communications network 338 to other computing devices connected to the communications network 338, such as a mobile telephone handset 344, a touchscreen smartphone 346, a personal computer 340, and the computing device 342.

[0064] One or more instances of the general purpose computer 310 may be utilised to implement a server acting to receive governance items, classify those governance items, and report on those governance items to effect a governance reporting system in accordance with the present disclosure, such as the server 201 of Fig. 2, In such an embodiment, the memory 314 and storage 316 are utilised to store data relating to registered entities and associated governance items. Software for implementing the governance reporting system is stored in one or both of the memory 314 and storage 316 for execution on the processor 312. The software includes computer program code for effecting method steps in accordance with the method of governance reporting described herein. One or more instances of the general purpose computer 310 may equally be utilised to implement one or more of the computing devices 221... 22/7, 241, ...24m, 255, and 265 of the governance reporting system 200 of Fig. 2. WO 2016/000010 13 PCT/AU2014/000683 [0065] Fig, 4 is a schematic block diagram of a system 400 on which one or more aspects of a governance reporting method and system of the present disclosure· may be practised. The system 400 includes a portable computing device in the form of a smartphone or portable table computing device 410, which may be used by a registered user of the governance reporting system in Fig. 2, The smartphone 410 includes a plurality of components, including: a processor 412, a memory 414, a storage medium 416, a battery 418, an antenna 420, a radio frequency (RF) transmitter and receiver 422, a subscriber identity module (SIM) card 424, a speaker 426, an input device 428, a camera 430, a display 432, and a wireless transmitter and receiver 434. Components of the smartphone 410 generally communicate using one or more bus connections 448 or other connections therebetween. The smartphone 410 also includes a wired connection 445 for coupling to a power outlet to recharge the battery 418 or for connection to a computing device, such as the general purpose computer 310 of Fig. 3. The wired connection 445 may include one or more connectors and may be adapted to enable uploading and downloading of content from and to the memory 414 and SIM card 424.

[0066] The smartphone 41.0 may include many other functional components, such as an audio digital-to-analogue and analogue-to-digital converter and an amplifier, but those components are omitted for the purpose of clarity. However, such components would be readily known and understood by a person skilled in the relevant art.

[0067] The memory 414 may include Random Access Memory (RAM), Read Only Memory (ROM), or a combination thereof. The storage medium 416 may be implemented as one or more of a solid state "flash" drive, a removable storage medium, such as a 5ecure Digital (SD) or microSD card, or other storage means. The storage medium 416 may be utilised to store one or more computer programs, including an operating system, software applications, and data. In one mode of operation, instructions from one or more computer programs stored in the storage medium 416 are loaded into the memory 414 via the bus 448. Instructions loaded into the memory 414 are then made available via the bus 448 or other means for execution by the processor 412 to effect a mode of operation in accordance with the executed instructions.

[0068] The smartphone 410 also includes an application programming interface (API) module 436, which enables programmers to write software applications to execute on the processor 412. Such applications include a plurality of instructions that may be WO 2016/000010 14 PCT/AU2014/000683 pre-installed in the memory 414 or downloaded to the memory 414 from an external source, via the RF transmitter and receiver 422 operating in association with the antenna 420 or via the wired connection 445.

[0069] The smartphone 410 further includes a Global Positioning System (GPS) location module 438. The GPS location module 438 is used to determine a geographical position of the smartphone 410, based on GPS satellites, cellular telephone tower triangulation, or a combination thereof. The determined geographical position may then be made available to one or more programs or applications running on the processor 412, [0070] The wireless transmitter and receiver 434 may be utilised to communicate wirelessly with external peripheral devices via Bluetooth, infrared, or other wireless protocol. In the example of Fig. 4, the smartphone 410 is coupled to each of a printer 440, an external storage medium 444, and a computing device 442. The computing device 442 may be implemented, for example, using the general purpose computer 310 of Fig. 3.

[0071] The camera 430 may include one or more still or video digital cameras adapted to capture and record to the memory 414 or the SIM card 424 still images or video images, or a combination thereof. The camera 430 may include a lens system, a sensor unit, and a recording medium. A user of the smartphone 410 may upload the recorded images to another computer device or peripheral device using the wireless transmitter and receiver 434, the RF transmitter and receiver 422, or the wired connection 445.

[0072] In one example, the display device 432 is implemented using a liquid crystal display (LCD) screen. The display 432 is used to display content to a user of the smartphone 410. The display 432 may optionally be implemented using a touch screen, such as a capacitive touch screen or resistive touchscreen, to enable a user to provide input to the smartphone 410.

[0073] The input device 428 may be a keyboard, a stylus, or microphone, for example, for receiving input from a user. In the case in which the input device 428 is a keyboard, the keyboard may be implemented as an arrangement of physical keys located on the smartphone 610. Alternatively, the keyboard may be a virtual keyboard displayed on tee display device 432.

[0074] The SIM card 424 is utilised to store an International Mobile Subscriber Identity (IMSI) and a related key used to identify and authenticate the user on a cellular network WO 2016/000010 15 PCT/AU2014/000683 to which the user has subscribed. The SIM card 424 is generally a removable card that can be used interchangeably on different smartphone or cellular telephone devices. The SIM card 424 can be used to store contacts associated with the user, including names and telephone numbers. The SIM card 424 can also provide storage for pictures and videos, Alternatively, contacts can be stored on the memory 414* [0075] The RF transmitter and receiver 422, in association with the antenna 420, enable the exchange of information between the smartphone 410 and other computing devices via a communications network 438. In the example of Fig, 4, RF transmitter and receiver 422 enable the smartphone 410 to communicate via the communications network 438 with a cellular telephone handset 450/ 3 smartphone or tablet device 452, a computing device 454 and the computing device 442. The computing devices 454 and 442 are shown as personal computers, but each may be equally be practised using a smartphone, laptop* or a tablet device.

[0076] The communications network 438 may be implemented using one or more wired or wireless transmission links and may include, for example, a cellular telephony network, a dedicated communications link, a local area network (LAN), a wide area network .(WAN), the Internet, a telecommunications network, or any combination thereof. A telecommunications network may include, but is not limited to, a telephony network, such as a Public Switch Telephony Network (PSTN), a cellular (mobile) telephone cellular network, a short message service (SMS) network, or any combination thereof.

[0077] One or mote instances of the smartphone or tablet computing device 410 may be utilised to implement a computing device used by an authorised user to access the governance reporting system implemented by the server 201 of Fig. 2, such as the computing devices 221... 22/7, 241, ...24/77, 255, and 265 of the governance reporting system 200 of Fig. 2. In such an embodiment, the memory 414 may include instructions that when executed on the processor 412 implement an "app"that provides a user interface and other controls for the authorised user to access the governance reporting system. Such an app may include, for example, user authentication processes and a graphical user interface for viewing and editing governance items and associated reports.

[0078] Fig. 5 is a schematic block diagram representation of flow of information in relation to a governance reporting system 500. The governance system 500 receives input comprising details of governance items 501 identified in relation to an entity. The governance items 501 are classified into three governance areas: strategic governance WO 2016/000010 16 PCT/AU2014/000683 items 502, identified risk items 504, and emerging trends 506, The governance items 501 are presented to the system 500 via manual input or through the uploading of electronic content, such as spreadsheets and the like.

[0079] The system 500 also receives input in the form of manual input 508 and content supplied through a user interface 510. Such input received via 508 and 510 may include, for example, entry of initial information relating to an entity, such as a list of authorised users, details relating to sub-entities, compliance requirements and reporting structures, formats for reports, including agendas and meeting minutes. The input received via 508 and 510 can occur at any time to create and view new data, modify data, and/or delete data relating to an entity.

[QQSO] in the example of Fig. 5, the system 500 is coupled to a processing module 540 that includes a key obligations module 542, a management report module 544, a key performance drivers module 546, a strategic governance items module 548, a risk items module 550, an emerging trends module 552, and other items module 554. The key obligations module 542 receives, as an input, data from a standard governance module 516, wherein the input data may include, for example, menu driven recording of key governance obligations. Such key governance obligations may include, for example, acceptance of minutes and conflict management.

[0081] The System 500 processes the received governance items 501 and provides input to a calendar .module 512 by parsing governance items to identify relevant owners, related leadership team members, and the like. Similarly, the system 500 provides input to an agenda establishment module 514, which receives input from the calendar moduie 512 and generates an agenda for meetings to be fed as input to the processing module 540.

[0082] A decision making framework module 528 provides input to the processing module 540. This provides knowledge input in varying forms. One arrangement is the provision of a decision making checklist to remind the leadership team of their legal responsibilities to make decisions that can be supported if challenged at law. Other arrangements provide guidance to the leadership team around principles to good governance practice.

[0083] An example of a board decision making framework will now be described. In this example, the purpose of the framework is to assist Directors to meet their obligations to an organisation and at law when making decisions. The framework Is designed to WO 2016/000010 17 PCT/AU2014/000683 encourage the Board to recognise a formal point at which a decision is to be made and to apply a structure around making decisions that requires the Board and the Directors to specifically address the basis upon which they are making the decision. Whilst this framework will typically apply to more important and significant decisions, die theory is equally applicable to all decisions required to be made by the Board.

[0084] Prior to making a decision, the Board will usually have received papers and proposals from management outlining the decision to be made and the justification or motivation behind the decision. There will also most likely have been discussion around the Board table.

[0085] In a first step, the Chair should formally acknowledge that the point has been reached were a decision is to be made and that the framework (previously adopted by the Board) is to be invoked. This clearly shows that the Board has moved into decision mode and indicates to non-Board members that this is a process in which they do not participate. In a second step, the Board should confirm that the Directors present and voting do not have any material conflict of interest and that all conflicts have been disclosed and that the Board is comfortable that such conflicts are being properiy managed by the organisation.

[0086] In a third step, the Board should identify whether the decision is a significant decision or an insignificant one. This will require the Board to identify what the consequences of a positive decision will be or could be and what the consequences of a negative decision wifi be or could be. In a fourth step, the Board should determine whether the decision is being made in the best interests of the organisation. This should include an understanding of any alternatives available to the organisation, as well as the consequences as identified in step 3- [0087] In a fifth step, each director should satisfy themselves as follows: (a) I do not have a material personal conflict of interest in the subject matter of this decision (or if I do, this has been disclosed and is being adequately managed by the organisation and each of the other Directors are aware of this conflict and have agreed on the role I will have in this decision making process); (b) I have sufficient information on which to make a decision; (c) I am confident that the information I am basing the decision on Is complete and reliable; m WO 2016/000010 PCT/AU2014/000683 (d) I understand the information and the implications of the decision for the organisation; (e) I am satisfied that external expert advice is not required or that the external advice we have received is reasonable and appropriate to rely on; (f) I am satisfied that in making this decision we will not be breaching any laws and will be enhancing the value of the organisation; (g) I am satisfied that the decision is rational and that I am acting honestly, independently and for a proper purpose on an informed basis.

[0088] In a sixth step, the Board should agree that the organisation has the resources and the skills necessary to successfully implement the decision. This should include the Board being satisfied that die organisation is solvent and that the decision will not adversely affect the solvency of the organisation. In a seventh step, the Board should be satisfied that an appropriate reporting framework is in place for keeping the Board informed about the progress of implementation of the decision and its success or otherwise. This should include "next steps", "allocation of responsibility", "implementation milestones" and "success measures".

[0089] In an eighth step, the Board should identify, agree and understand its communication strategy to staff, stakeholders, regulators and the media. This should include a clear structure around who will do and say "what" and what the process will be if the decision has "negative fallout". In a ninth step, following each use of the framework, the Board should consider the appropriateness of the framework and agree whether there are any enhancements or changes that should be made to the framework.

[0090] Returning to Fig. 5, the processing module 540 is coupled to a reporting module 536, which is responsible for generating reports to authorised users, such as members of a leadership team of an entity. The reporting module 536 receives input from a tactical planning module 534 and the strategic governance module 548 and risk module 550. The reporting module 536 is optionally adapted to seek information from related sub-entities in relation to compliance with endorsed policies, shown as module 532. Further, the reporting module 536 is optionally coupled to a hyperlink to an endorsed policy of the entity.

[0091] The processing module 540 receives input from a database 520 of identified risks, current mitigation controls, additional projects, and performance targets set by the relevant leadership team. WO 2016/000010 19 PCT/AU2014/000683 [0092] The emerging trends module 552 is adapted to engage attention of the leadership team, shown as output 522 and representing an alert or notification transmitted to the leadership team when an impact, likelihood, or combination thereof, relating to an emerging trend passes a predefined threshold. Such an alert engages the attention of the leadership team at the required team, without having to wait for a scheduled meeting to occur. Thus, the monitoring of emerging trends and issuance of corresponding alerts seeks to promote good governance practices by prompting timely responses to changes occurring outside the entity. Such alerts may be sent by email, SMS text message, Multimedia Message Service (MMS) text message, notification on a graphical user interface provided by the governance system, or other means.

[0093] The processing module 540 optionally produces output in the form of meeting minutes 526, which are structured by the input from the standard governance module 516 to comply with any relevant requirements. The meeting minutes module 526 feeds into an action database 524, which provides recursive feedback to the system 500.

[0094] Fig. § is a schematic representation illustrating storage of entities and related information in the entity database 212 of the server 201 implementing the governance method of the present disclosure. As previously described in relation to Fig. 2, the entity database stores each entity registered with the governance reporting system as a record with an associated profile.

[0095] In the example of Fig. 6, the entity database 212 includes a record of a registered entity, wherein the entity corresponds to the district rugby organisation 202 of Fig. 2. The district rugby organisation has a record 600 that includes a title 602 and contact details 604. The record 600 also includes information 620 relating to the associated leadership team 220, wherein each member Of the leadership team 221, ..., 22/7 has a corresponding record 621, ,.., 62/? storing a name, username, password, and level of access.

[0096] The record 600 also includes information 640 relating to a sub-entity associated with the registered entity of the district rugby organisation, wherein in this example the sub-entity is the set of member clubs 206, It will be appreciated that other entities may be implemented with cascading hierarchical structures of greater or lesser depth. For each member club 241,..., 24m in the set of member clubs 206, the record 600 stores information in a corresponding record 641,..., 64/?? relating to relevant authorised users, such as name* username, password, and level of access. WO 2016/000010 20 PCT/AU2014/000683 [0097] The record 600 further stores a set of governance items 630 associated with the district rugby club 202. As previously described, each governance item is classified by the governance reporting system into one of three predefined governance areas. Thus, the stored governance items may be represented as a set of strategic governance items 631, a set of risk items 632, and a set of emerging trends 633. The analytics module 214, reporting module 216, and alerts module 218 of the server 201 use the stored governance items 630 and their respective classifications and properties to produce reports and a user interface that facilitates good governance by highlighting changing risk ieveis and likelihoods of governance items identified in relation to an entity.

[0098] Fig. 7a is a schematic block diagram representation of a report produced by the governance reporting system based on a strategic governance item stored in the set of strategic governance items 631 of Fig. 6 or a risk item stored in the set of risk items 632 of Fig. 6. In the example of Fig. 7a, the report 700 includes a title 702, a goal 704, a stated risk 706 to the delivery of the goal 704, and an owner 708. The report 700 includes a matrix 710 that provides a visual representation of a set of mapped risks associated with this particular strategic governance item. As previousiy indicated, the set of mapped risks includes an inherent risk, a residual risk, and a target risk, wherein each of the inherent risk, residual risk, and target risk is mapped against a likelihood on a y-axis of the matrix and an impact on an x-axis of the matrix. Thus, the inclusion of the matrix 710 results in a report that-dearly identifies areas that require intervention from those charged with a governance rote. By storing reports over time, it is possible to track escalation of one or more risks associated with a governance item, the status of various controls and projects over time, and thus vindicate or convict actions of relevant leadership team members.

[0099] The report 700 also includes a set of controls 720 comprising controls 721,..., 72jt wherein each control 721,..., 72x has a description and an associated status. A control is an existing mitigation that is being implemented to address the governance item. For example, a strategic governance item may be to have a compliance culture. In sudi an example, controls may indude an internal compliance program, periodic reports, and an induction program for new employees. Further, each control is able to be cascaded down to a sub-entity and display an indication when such cascading has occurred. This provides a leadership team of an entity or sub-entity with visibility that a control has been delegated to a lower level of the entity. 21 PCT/AU2014/000683 WO 2016/000010 [00100] The report 700 farther includes a set of projects 730 comprising projects 731, ,.., 73k, wherein each project relates to an action to minimise a risk and/or likelihood associated with the strategic governance item. Such projects are typically associated with one or more milestones and are displayed with an associated status, thus providing an indication of how each project is tracking to a viewing authorised user.

[00101] The report 700 further includes a set of measures 740 comprising measures 741, ,.., 74z, wherein each measure defines an outcome that provides a quantifiable way in which to assess achievement of the stated goal 704. For example, a measure may be the number of employees who have completed a compliance training pregram by a specified date. Each measure is associated with a target amount, an actual amount, and a status based on the target amount and the actual amount.

[00102] Fig. 7b is a screenshot 750 of a report based on a strategic governance item entitled "Compliance Culture". Fig. 7c is an enlarged view of the matrix of the screenshot 750 of Fig. 7b, showing a plot of "Consequence of non-delivery" on the x-axis against "Likelihood of event" on the y-axis. In this example, the inherent risk is defined to have a likelihood of "Almost Certain" and an impact of "Catastrophic". The residual risk is defined to be "Very Likely" with an impact of "Major". The target risk is "Unlikely" with an impact of "Major". In the screenshot of Fig. 7b, each ceil of the matrix is colour-coded to provide a visual indication of the relative likelihood and risk of the inherent, residual, and target risks.

[00103] The matrix shown In Fig. 7c corresponds to the matrix 710 of Fig. 7a and provides a graphical representation of management of risk associated with a governance item. In one arrangement, a user is able to configure the matrix to provide contextual information. In one implementation, the user is able to assign different colours to each combination based on the likelihood of an event and the related impact resulting from non-delivery to achieving the plan.

[00104] Fig. 7d illustrates a user interface for customising the graphical matrix. Each cell in the matrix corresponds to a combination based on the likelihood of an event and die related impact resulting from non-delivery to achieving the plan, and the user is able to assign a different colour to each cell, In this example, a rare event with an insignificant impact is presented as a green cell in the matrix, which indicates to a viewing user that no immediate action is required. In contrast, a cell corresponding to an almost certain event with catastrophic impact is presented as a dark red colour, which indicates to a WO 2016/000010 22 PCT/AU2014/000683 viewing user that immediate action is required. It is possible to store instances of a report over time, so it is possible to track risks mapped on the matrix over time and thus view whether a leadership team took sufficient action at the required time to discharge their governance duties.

[00105] Fig, 7e Is a user interface that allows a user to customise labels on the matrix 710 of Fig, 7. In this example, an event label led catastrophic corresponds to a loss of greater than 15%. Customising and applying quantities to the labels on the matrix ailow a leadership team to fine-tune the alert and notification system, such that relevant governance items are brought to the attention of the leadership team at the relevant time.

[00106] Fig. 8a is a schematic block diagram representation of a graphical user interface 800 presented to an authorised user of a governance reporting system. The interface 800 includes a first button 801 that enables the user to select an entity. The first button 801 may be implemented, for example, as a drop down fist, radio button, text box, or the like. It is common for a person to be associated with more than one entity. Thus, a person who is member of multiple leadership groups associated with multiple entities registered with the governance reporting system is able to use a single interface to monitor and edit governance items relating to those entities. The interface also includes a governance items button 810, a risk register button 820, and a tactical plan 830, [00107] Fig. 8b is a schematic block diagram representation of the graphical user interface 800 presented to an authorised user when the governance items module 810 is active. The interface 800 includes: (!) a set of strategic governance items 812 containing all governance items 812a,..., 812 X associated with the entity; (ii) a set of identified risk Items 814 containing all identified risk items 814a,..,, 814/? associated with the entity; and (iii) a set of emerging trend items 816 containing all emerging trend items 816a,..., 816<?associated with the entity.

[00108] The user is able to select any one of the governance items 812a,,.., 812A; risk items 814a,..., 814p, or emerging trend items 816a,..., 816^ to gain access to view and modify the respective item. 23 WO 2016/000010 PCT/AU2014/000683 [00109] Fig, 8c is a schematic block diagram representation of the graphical user interface 800 presented to an authorised user when the register risk module 820 is active. The interface 800 includes: (i) a set of risk register items 822 containing ail risk items 822.¾ ..., 822s associated with the entity, [00110] The user is able to select any one of the risk items 822a,..,, 822sto gain access to view and modify the respective item.

[00111] Fig, 8d is a schematic block diagram representation of the graphical user interface 800 presented to an authorised user when the tactical plan module 830 is. active. The interface 800 includes: (i) a set of milestones 832 containing all milestones 832a,..., 8321associated with governance items associated with the selected entity.

[00112] The user is able to select any one of the risk items 832a,... 832fto gain access to view and modify the respective item. Each milestone 832a,..., 832f includes information relating to an associated governance item, an initiative, a nominated milestone, a responsible person, a due date, any associated action, and a status.

[00113] Fig. 9 is a screenshot of a sample tactical plan 900. The tactical plan 900 in the example of Fig. 9 includes a sorting filter 910. The tactical plan includes a set of milestones 930 that includes four milestones. The first milestone is associated with the governance item "Compliance - SOA", has an initiative of "Redesign SOA for board approval by December 2013", a nominated milestone of "Report delivered", a responsible person of "Simon Jones", a due date of "27 Fell 2014", an action of "Board Note" and a status of "60%". The initiative is derived from the initiatives/projects associated with the governance item "Compliance - SOA", so it is necessary to edit the governance item "Compliance - SOA" in order to change parameters of the initiative/project [00114] In one arrangement, the governance reporting system impiemented using the server 201 includes a function impiemented using the reporting module 216 to generate reports relating to milestones. In one implementation, a user can select a report based on a responsible person, whereupon the reporting module 216 retrieves from the entity database 212 all milestones associated with that person. In another implementation, the user can select a report based on any of the following: (i) all milestones that have been delivered in relation to an entity, sub-entity, or responsible person; (ii) all milestones that WO 2016/000010 PCT/AU2014/000683 24 have not been delivered in relation to an entity, sub-entity, or responsible person; or (iii) milestones within a specified period relating to an entity, sub-entity, or responsible person. In one implementation, the reporting module 216 automatically generates one or more milestone reports at periodic intervals, such as weekly or monthly. In another implementation, the reporting module 216 generates a milestone report whenever a milestone fails to meet a defined timeframe, such as a due date.

[00115] The governance reporting method optionally provides a module to generate agendas and minutes for meetings. Figs 10a to 10c are screenshots of sample Input screens to construct; an agenda for a meeting. Fig. iOa shows a graphical user interface 1000 that allows a user logged into the server 201 to select one or more attendees for a forthcoming meeting, which in this example is scheduled for 28 May 2014. The list of potential attendees is based on a list of persons associated with the entity.

Fig, 10b shows a graphical user interface 1010 that displays a meeting overview to a user, showing a list of past and future meetings, the relevant locations, and the number of attendees and agenda items. Fig. 10c shows a graphical user interface 1020 tor managing meetings of an entity, allowing a user to add a meeting date and corresponding location and editor archive other meeting information.

[001163 Fig, 11 is a screenshot of a graphical user interface 1100 presented to a user to manage an agenda for a meeting. The user is able to add agenda items from a list of governance items associated with the entity, as well as adding other agenda items. In one implementation, the reporting module 216 of the server 201 implementing the governance reporting system includes a set of templates that can be used to generate agendas, wherein each template defines one or more agenda items. Thus, an entity can define a template that includes one or more agenda items that are required for each meeting, such as acceptance of the minutes of the previous meeting. In an alternative embodiment, data from the standard governance module 516 provides a set of compulsory agenda items that are required for the entity.

[001173 As previously noted, the governing method and system of the present disclosure allow governance items associated with an entity to be cascaded down to relevant sub-entities. In one implementation, the governing system produces a report on a strategic governance item, wherein each control includes an indicator of whether the control has been delegated or cascaded to a lower sub-entity. WO 2016/000010 25 PCT/AU2014/000683 [00118] Fig. 12 shows the report 700 of Fig. 7a, illustrating one implementation of displaying cascaded controls. In the example of Fig. 12, the control 721 has an associated cascade identifier 1200, which indicates that control 721 has been cascaded to one or more sub-entities. In this example, when a user uses an input device, such as a mouse, to hover over the cascade identifier 1200, the governance system displays a dialog box 1210 listing a record 1201,..., 120//for each sub-entity to which the control has been cascaded, wherein each record 1201, ..., 120//provides a status indicator from each sub-entity in relation to that particular control. Consequently, a leadership team member of the entity can readily view and access information throughout all levels of the entity in relation to any selected governance item. This provides the leadership team with visibility of all governance items and enables the leadership team to make better informed management decisions.

[00119] In one implementation ,the governance reporting system implemented using the Server 201 receives a status update for a control from an authorised user relating to a sub-entity. The reporting module 216 is adapted to transmit a notification to a leadership team member of a higher level entity or sub-entity, wherein the notification alerts the leadership team member of the change in status of the control a the relevant sub-entity level. Consequently, the leadership team members of the overriding entity have visibility of which controls and projects have been acted upon and their respective statuses. As described above, the alerts module 218 is able to send the notification by email, SMS text message, Multimedia Message Service (MMS) text message, notification on a graphical user interface provided by the governance system, or other means. In one arrangement, the governance system is implemented using an app that executes on the computing devices 231,..., 23/7 accessed by board members, and the alerts module 218 transmits a message to the app to display a notification within the app of the change of status of a control. Such a notification may include, for example, a visual alert, an audible alert, or a combination thereof.

[00120] In the example of the district rugby organisation 202 of Fig. 2, one strategic governance item relates to health and safety, wherein the health and safety governance item has an associated control relating to placement of padding around goal posts before a match. This is an important action, but is not a control for which a board member of the rugby organisation 202 needs to actually see take place. In this instance, the board 220 cascade responsibility for placing the padding on goalposts to the member organisations 206. On match day, each member organisation 241,..., 24/77 logs in and WO 2016/000010 26 PCT/AU2014/000683 updates the status of that control so that the board has visibility that the control is being actioned by all relevant sub-entity members. The consequence of the control being actioned is to minimise risk associated with the health and safety governance item.

Industrial Applicability [00121] The arrangements described are applicable to the governance and compliance of organisations, companies, partnerships, trusts, societies, and charities across ail industries.

[00122] The foregoing describes only some embodiments of the present invention, and modifications and/or changes can be made thereto without departing from the scope and spirit of the invention, the embodiments being illustrative and not restrictive.

[00123] In the context of this specification, the word "comprising" and its associated grammatical constructions mean "including principally but not necessarily solely" or ''having" or "including", and not "consisting only of" Variations of the word "comprising", such as "comprise" and "comprises" have correspondingly varied meanings.

[00124] As used throughout this specification, unless otherwise specified, the use of ordinal adjectives "first", "second", "third", "fourth" etc., to describe common or related objects, indicates that reference is being made to different instances of those common or related objects, and is not intended to imply that the objects so described must be provided or positioned in a given order or sequence, either temporally, spatially, in ranking, or in any other manner.

[00125] Although the invention has been described with reference to specific examples, it will be appreciated by those Skilled in the art that the invention may be embodied in many other forms.

Claims (15)

1. The claims defining the invention are as follows:

   1. A computer-implemented governance reporting method comprising the steps of: identifying a set of governance items relating to an entity; classifying said governance items into a set of predefined governance areas, said governance areas including strategic governance items, identified risks, and emerging trends, wherein strategic governance items are risks associated with delivering predefined goals of the entity, identified risks are identified threats to be managed, and emerging trends are trends relevant to the entity that are to be monitored; storing each governance item with an associated set of attributes; and generating a report for a selected one of said stored governance items, wherein said report is based on the set of attributes associated with the selected governance item.
2. 2. The method according to claim 1, wherein: each strategic governance item is stored with a set of controls, a set of projects, and a set of measures; each identified risk item is stored with a set of controls, a set of projects, and a set of measures; and each emerging trend is stored with a set of strategies to manage likelihood of the respective trend and a set of strategies to manage impact of the respective trend.
3. 3. The method according to claim 2, wherein if said selected governance item is one of a strategic governance item or a risk item, the report is based on the set of controls, the set of projects, and the set of measures associated with the selected governance item; and further wherein if said selected governance item is an emerging trend, the report is based on the set of set of strategies to manage likelihood of the respective trend and a set of strategies to manage impact of the respective trend.
4. 4. The method according to any one of claims 1 to 3, comprising the further step of: transmitting an alert to each member of a leadership team associated with the entity, when a current position of a governance item lies in an unacceptable likeiihood/impact position.
5. 5. The method according to claim 4, wherein said alert is transmitted as one of an email, a Short Message System (SMS) text message, a Multimedia Message Service (MMS) text message, or a notification on a graphical user interface.
6. 6. The method according to either one of claims 4 and 5, wherein said governance item is an emerging trend and the current position of said emerging trend is defined by at least one of a likelihood of said emerging trend and an impact of said emerging trend.
7. 7. The method according to any one of claims 1 to 6, comprising the further steps of: storing a set of milestones, wherein each milestone Is associated with a governance item; and generating a tactical plan based on said stored milestones, wherein said tactical plan includes, for each milestone, a record including at least one of: the governance item with which the milestone is associated, a project, a milestone description, a due date, a person responsible for the milestone, a due date, and a milestone status.
8. 8. The method according to claim 7, comprising the further step of: generating a milestone report based on at least one milestone associated with an entity, sub-entity, or responsible person.
9. 9. The method according to claim 8, wherein said milestone report is generated automatically when a milestone fails to meet a specified due date.
10. 10. The method according to any one of claims 1 to 9, comprising the further steps of: selecting, by a user, one of said stored governance items; receiving a change to said selected governance item; and generating a revised report for the selected governance item, said revised report reflecting the received change.
11. 11. A governance reporting system, comprising: a server including: a processor; a storage device for storing a computer program that when executed on said processor performs the steps of; receiving a set of governance items relating to an entity; classifying said governance items into a set of predefined governance areas, said governance areas including strategic governance items, identified risks, and emerging trends, wherein strategic governance items are risks associated with delivering predefined goals of the entity, identified risks are identified threats to be managed, and emerging trends are trends relevant to the entity that are to be monitored; storing, in said storage device, each governance item with an associated set of attributes; generating a report for a selected one of said stored governance items, wherein said report is based on the set of attributes associated with the selected governance item.
12. 12. The governance reporting system according to claim 11, wherein: each strategic governance item is stored with a set of controls, a set of projects, and a set of measures; each identified risk item is stored with a set of controls, a set of projects, and a set of measures; and each emerging trend is stored with a set of strategies to manage likelihood of the respective trend and a set of strategies to manage impact of the respective trend.
13. 13. The governance reporting system according to either one of claims 11 and 12, further comprising: a repotting module for generating a tactical plan based on milestones associated with the stored governance items.
14. 14. The governance reporting system according to claim 13, further comprising: an alerts module for transmitting a notification to each member of a leadership team associated with the entity, based on a current position of a governance item lying in an unacceptable likeiihood/impact position.
15. 15. The governance reporting system according to claim 14, wherein said alerts module is further adapted to transmit a notification to each member of said leadership team associated with the entity, based on at least one of a status of a control and a status of a project associated with a governance item.