“An effective whistle-blowing framework for reporting any illegal or unethical behavior minimizes the Company’s exposure and prevents recurrence.” Principle 19, Nigerian Code of Corporate Governance, 2018. Whistle-blowing is generally defined as the disclosure by members of an organization (former or current) of illegal, immoral or illegitimate practices under the control of their employers, to persons […]
In recent years, cases of corporate failure have highlighted the need to look beyond the assurance provided by external audit and the oversight role of the Statutory Audit Committee with respect to the Board’s responsibility for risk management, control, and the entire governance framework. Attention has been focused on strengthening internal governance infrastructure that will […]
Risk is an underlying factor in every business and can be defined as the probability or threat of damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities. ISO Guide 73 defines risk as the effect of uncertainty on objectives which may be positive, negative or a deviation […]