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(PDF) Corporate Governance- A conceptual Guideline

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Added on  2021-04-24

(PDF) Corporate Governance- A conceptual Guideline

   Added on 2021-04-24

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(PDF) Corporate Governance- A conceptual Guideline_1
PART 2 Corporate governance refers to the system of rules, principles, regulations, and processes upon which an organization operates. Reviewing of corporate governance principles and processes is important to ensure that there is proper management of internal risk within the organization. This ensures that all the systems and operations of the organization run smoothly. In order to review corporate governance, it is important to analyze the performance of the current corporate governance framework.The strengths and weaknesses of the existing framework are determined, and then the governance objectives are set. One of the ways of reviewing corporate governance requirements is analyzing the current operating procedures of the organization to ensure that they are in line with the national and international standards. A review of the board charter of the organization ensures that the roles responsibilities and powersof the board members are clearly defined. The risk management policy and framework of the organization also need to be reviewed to identify the underlying gaps in the risk oversight as well as establishing the level of compliance with the internal control regulations. 1.Karla Johnstone, Chan Li and Kathleen Hertz Rupley, "Changes In Corporate Governance Associated With The Revelation Of Internal Control Material Weaknesses And Their Subsequent Remediation*" (2010) 28(1) Contemporary Accounting Research
(PDF) Corporate Governance- A conceptual Guideline_2
The board induction policy and programs of the organization also need to be reviewedto ensure that there is a smooth transition for the new directors joining the organization transition smoothly. The communication policies that are being presentlyused by the organization should be reviewed and compared to the objectives of the organization.The method of communicating the corporate governance framework is by including the corporate governance report in the yearly report by the company.The framework can be communicated to the stakeholders during Annual General Meeting. Seminars and workshops can be organized to train employees. On job training can be done through continuous observation and practice. The control and operating procedures need to be designed based on the loopholes identified in the review stage. Q2.1)BRB committed an error in the recruitment processes and procedures. The recruitment procedures did not ensure that the most competent and qualified candidatewas selected. They considered only the academic qualification of the candidate and did not put much emphasis on the level of experience. The organization also made an error by failing to do a background check on the documents presented by the applicants.
(PDF) Corporate Governance- A conceptual Guideline_3

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