This research by KPMG into standard costing illustrates the importance of ensuring the right information is both made available and used effectively. This provision of the most relevant management information and its proper use is part of a much wider issue of significance to business leaders and management accountants. The Walker Review which scrutinised corporate governance in the UK financial sector highlighted the need for non executive directors to be better informed and more engaged. But non executive directors can never be close enough to the business to be certain of their precise information needs, nor to influence management’s decision making at an operational level. This is because good governance at board level is a necessary but not a sufficient condition to ensure good performance and risk management. (PDF 329KB)