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PSI Corporate Governance Framework

Corporate governance is the system by which organisations direct and control their functions and relate to their stakeholders in order to manage their business, achieve their mission and objectives and meet the necessary standards of accountability, integrity and propriety. Good corporate governance is a key element in improving efficiency and accountability as well as enhancing openness and transparency. A significant element of the Government's programme for health service reform is the strengthening of governance and accountability arrangements across the health system.

The PSI Corporate Governance Framework is informed by and in compliance with the following:
  • Department of Finance “Code of Practice for the Governance of State Bodies (2009)” and “Public Financial Procedures"
  • Department of Health and Children “Framework for Corporate and Financial Governance (2006)”
  • “The Good Governance Standard for Public Services” issued by the Independent Commission on Good Governance in Public Services
  • OECD Principles of Corporate Governance
  • Ethics in Public Office Acts 1995-2001
  • Data Protection Acts 1988 and 2003
  • Freedom of Information Acts 1997-2003
  • Companies Act 1963
  • Health Acts 1947-2004
  • The Ombudsman Act 1980
  • Comptroller and Auditor General (Amendment) Act, 1993
Benefits of good governance:
  • Improved transparency and accountability. The PSI performs its functions and duties in the public interest and is therefore accountable to the public. The PSI is also accountable to the Oireachtas for the exercise of its regulatory functions.
  • Taking informed, transparent decisions and managing risk.
  • Improved communication with stakeholders.
  • Good governance leads to good management, good performance, good stewardship of public money, good public engagement and, ultimately, good outcomes.

The Council of the Pharmaceutical Society of Ireland adopted a Code of Conduct for Members of Council and Advisory Committee Members of the Pharmaceutical Society of Ireland in September 2009, which is included as Appendix E to the Corporate Governance Framework.

A new Audit Committee was approved by Council at their meeting of September 29th 2009. The members are as follows:

Mr Ray Dolan
Ms Michelle Ní Longáin (Council Member)
Mr John Gloster, Postgraduate Training Officer, The College of Psychiatry of Ireland
Mr Noel Conroy, former Garda Commissioner
Ms Eugenie Canavan, MPSI
Mr Dermot Magan, formerly Department of Health and Children


Click here to view the Charter of the Audit Committee.

The Internal Audit function is undertaken by an accountancy firm Crowleys DFK, 16/17 College Green, Dublin 2.

The external auditors appointed for 2008 are Anne Brady McQuillans DFK, Ivy Court, Harcourt Street, Dublin 2.

The Legal Advisor is Mr John C O'Connor, Solicitor, 8 Clare Street, Dublin 2.

The following documents may also be viewed:

PSI Procurement Procedures
PSI Health and Safety Statement
   

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18 Shrewsbury Road, Ballsbridge, Dublin 4, Ireland.t: +353 1 2184000 f: +353 1 2837678 e: info@pharmaceuticalsociety.ie
 

 

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