Effective minute taking and retention are essential aspects of corporate governance, ensuring transparency, accountability, and compliance within organizations. This article provides a detailed overview of Governance Standard 003, elucidates its significance in corporate governance, and explores the crucial role of the company secretary in minute taking and retention.
Having the same person hold both the positions of CEO and Board Chair affects the company in multiple ways, which can be either beneficial or detrimental. Generally, separating the roles of the CEO and the Board Chair is considered best practice by many regulators, but should this be the case?
In a constantly changing business environment, organizations face numerous challenges when it comes to governance and compliance. Generally, risk is the possibility that an outcome will not be as expected.
Managing governance and compliance risks is a critical aspect of modern business management. Organizations that prioritize effective governance, regulatory compliance, and ethical conduct position themselves for sustainable success.
Stakeholder engagement involves the process of actively involving individuals, groups, or entities affected by or having an interest in a company's operations, decisions, or policies. By embracing stakeholder engagement, businesses enhance transparency, accountability, and ethical conduct, ultimately fostering long-term sustainability and success.
The Companies Act, 2015 (the “Act”) in Section 142-147 has outlined the various duties of directors as below;
In the realm of Corporate Governance, the composition of boardrooms has long been a topic of discussion and debate. One particularly contentious issue has been the lack of gender diversity on corporate boards, with some organizations still maintaining all-male or all-female boards.
Social and Ethical Audits allow the company to see itself through a variety of lenses and captures the Company's ethical and social Profile.
Surrendering of shares refers to the voluntary return of shares held in a company by the registered shareholder for those shares. Surrendering shares, is in effect, the same as transferring those shares in favour of the company that issued them.
The Board has the mandate of setting out the strategic direction of the company, overseeing management's performance, and ensuring that the company operates in compliance with the expected legal and ethical standards. With an increase in stakeholder expectations and enhanced regulatory requirements, there has been an increasing need for use of various mechanisms to assess the performance of the board.
