An agency relationship exists where a principal (the owner) or an organisation engages an agent (the manager) to perform duties on the principal’s behalf. For example, the shareholders delegate the running of a business to the directors. Here’s a quick overview if you’re studying Governance Risk and Ethics.
Good corporate governance promotes the success of the business and encourages strategies that consider the interests of shareholders and other stakeholders. Here’s a few responsibilties which you might find useful for your ACCA P1 Governance Risk and Ethics studies.