Kenya is in the process of becoming one of the latest countries in Africa to adopt robust Corporate Governance Guidelines – as per the Draft Corporate Governance Code published by the Capital Markets Authority in May 2014
Directors, auditors, and other officers of companies who FAIL to acquaint themselves with, AND apply the principles of corporate governance will be hard pressed, if things go wrong, to answer the charge that they FAILED to take reasonable steps to comply with their duties of trust and care. With Kenya joining many more countries adopting formal codes of Corporate Governance across the globe this has become a priority for organizational leaders everywhere.
Who is considered a director or officer within a company has also been expanded – in essence business is all about making and implementing decisions – the focus of corporate governance (in both the legislation and codes) is to place liability squarely on the shoulders of decision makers.
On a more practical level, the modern corporation is a complex organization and the failure to integrate its various functions and processes is at best wasteful and at worst catastrophic. Good governance is simply good entrepreneurship.
There has been a worldwide trend to improving corporate governance following various calamities and the current economic crisis facing the world is largely the consequence of poor governance in by both regulators and banking organizations.
With the adoption of formal codes internationally, we are able to examine corporate governance in a new world class context.
This program is intended for those wishing to understand, and learn how to apply, the new requirements and expectations for good governance.
It does so by:
- Laying a good foundation for practical analysis of the relationship between legislation ad recommendations (codes of corporate governance);
- What does Legislation aim to do, relating legislation, regulations and recommendations
- Unpacking the Context within which legislation and recommendations operate, seeking to identify the key areas impacted
- The Macro Environment
- The Micro Environment
- Providing an overview of appropriate Legislations and Codes – this highlighting some key issues that reinforce the intentions and impact in your context
- Codes and Legislation are covered that are appropriate to whatever part of the globe this program is presented – elaborating on and emphasizing the common elements in governance that have emerged internationally.
The Program unpacks the 7 pillars elaborated in the CMA Code of Corporate Governance:
- Board Operations and Control
- Rights of Shareholders
- Stakeholder Relations
- Ethics and Social Responsibility
- Accountability, Risk and Internal Control
- Transparency and Disclosure
- Supervision and Enforcement
The Program is built around the following Core Clusters that correlate with the undergirding principles of Corporate Governance:
Who should attend?
- Board members, Company Secretary, Legal Counsel
- All directors and managers of organizations, in the public and private sectors
- Members of audit committees
- Managers of internal audit departments and other assurance functions
- Compliance directors, managers and officers
- Risk professionals
- Legal advisors and attorneys
- Auditors and audit managers
- All other related professionals