Corporate Governance is the set of processes, customs, policies and laws by which an organisation is directed, administered and controlled. Corporate governance also includes the relationships among the many stakeholders involved and the goals for which an organisation is governed. The principal stakeholders are the shareholders, management, and the board of directors. Other stakeholders include employees, customers, creditors, i.e. banks, insurers, suppliers, regulators, and the community at large.

Corporate governance aims to protect shareholder rights, enhance disclosure and transparency, facilitate effective functioning of the board and provide an efficient legal and regulatory enforcement framework through a mix of company law, stock exchange listing rules and self-regulatory codes.

Accosec’s role is to ensure a company maintains a proper corporate governance environment and follows the generic corporate governance principles, which are:

Responsibility - of directors who approve the strategic direction of the organisation within a framework of prudent controls and who employ, monitor and reward management.

Accountability - of the board to shareholders who have the right to receive information on the financial stewardship of their investment and exercise power to reward or remove the directors entrusted to run the company.

Transparency - of clear information with which meaningful analysis of a company and its actions can be made. The disclosure of financial and operational information and internal processes of management oversight and control enable outsiders to understand the organisation.

Fairness - that all shareholders are treated equally and have the opportunity for redress for violation of their rights.

 

 

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