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.
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.
As the principal advisor to the board of directors on matters of corporate governance, the corporate secretary is responsible for ensuring that the board operates in accordance with the highest standards of ethical behavior and accountability. This involves implementing policies and procedures that encourage transparency, integrity, and responsible decision-making.
Governance, risk management, and compliance (GRC) is a corporate management system that incorporates these three crucial functions into the processes of every department within an organization.
The scope of Corporate Governance Audits can vary depending on the size and complexity of the company being audited.
Do you know that you are required to appoint at least one local representative when incorporating a foreign branch in Kenya?
