“…Clarke (2004) saw corporate governance being about both risk-management and wealth creation (p. 161). In a more detailed description Locke and Scrimgeour (1999) state that good governance of local government councils deals with issues of; executive recruitment, asset management, strategic direction, legislative compliance, consultation, monitoring, and reporting (p. 21). Tricker (1993) by outlining his thoughts on the perspectives a director needs gives some indication of the roles a BoD may have: directors need to have perspectives that look inward at the executive management of the businesses in the company and, also, outwards to the competitive environment for the firm in its socio-economic-political milieu.…”