The Audit Committee is a key governance structure charged with oversight over financial reporting and disclosure. Apart from the Statutory Audit Committee, as required (of public companies) by the Companies and Allied Matters Act, Cap C20, LFN, 2004 (CAMA) which is made up of an equal number of Directors and shareholder representatives, a company may […]
Succession planning is a concept that will continue to engage the minds of the Boards and Managements of many organizations for a long time to come. This is because it is now recognized that organizations need to be able to identify and retain potential talent, to remain at the forefront of their businesses. Therefore, in […]
Shareholder Activism is a way in which shareholders can influence a company’s behavior by exercising their rights as owners (Investopedia). Financial Times defines Shareholder Activism as “the idea that investors should work to influence the running of the companies in which they invest, primarily through the casting of shareholder voting. This activity is designed to […]
“Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.”- Institute of Internal Auditors Internal Audit has evolved significantly from […]
Sound corporate governance practices are essential for efficient, viable and sustainable growth of companies and institutions, including governments. An interesting definition of corporate governance is that which defines it as “a system of law and sound approaches by which corporations are directed and controlled, focusing on the internal and external corporate structures with the intention […]
In broad terms, corporate governance deals with the manner in which companies are run in order to meet the owners’ return on investment, whilst contributing to economic growth and efficiency as well as ethical business behaviour. In general, the Board of Directors has responsibility to direct the affairs of a company and it delegates the […]