Corporate Governance
Corporate Governance Audits in Kenya.
A corporate governance audit in Kenya is an independent assessment of an institution with a view of expressing an opinion on the adequacy and effectiveness of the systems, policies, processes and practices of an organization. Governance audits provide Boards and Management with the assurance they need that proper and adequate governance structures are in place for ensuring
adoption of best practices in corporate governance, enabling the achievement of business goals and delivering long-term value to stakeholders.
In conducting Governance Audits, Unicorn Registrars reviews key documents, Board/Committee minutes, and analyses the governance policies and practices of the Board using various methods of data collection. A governance audit focuses on the following parameters: leadership and strategic management, transparency and disclosure, compliance with laws and regulations, communication with stakeholders, Board independence and governance, Board systems and procedures, consistent shareholders and stakeholders value enhancement and corporate social responsibility and investment.
Following the completion of an audit, Unicorn Registrar prepares an audit report which helps to measure how best an organization is governed and how to make the Board more effective and better performing. The audit report also helps an organization to identify governance gaps, which if promptly addressed lead to improved standards of governance practice, mitigation of governance risks and enhanced compliance with relevant laws and regulations.
Board Evaluation.
Board effectiveness has become an area of focus for investors and other stakeholders over the recent past, mainly due to the recognition that a highly performing Board is key to the success of any organization. For a Board to be effective, it must embrace tools that help it to continuously improve. One of these tools is Board evaluation, which has been hailed as a “health check” for Boards and recognized through various governance codes over the years.
Board evaluation provides an objective framework for analytical feedback to the Board and an opportunity to step back, and review its policies, practices, and culture. The evaluation typically examines the Board structure and composition, Board practices, procedure of Board meetings, accountability and risk management, information and communication, and Board dynamics and functioning. Unicorn Registrars provides Board evaluation services to various clients to assist the Boards to improve on Board performance and effectiveness. The evaluations encourage Boards to reflect on their performance, identify and capitalize on their strengths, and institute mitigation actions to close any gaps. The evaluations further assist the Boards to enhance their working relationship with Management by promoting a healthy balance of power between the Board and the Chief Executive Officer.
Our Board Evaluation tools comprise a tool for the Board as a whole, the Chairman, Chief Executive Officer, Individual Directors, Company Secretary, and each of the committees. We use both quantitative and qualitative tools to enhance objectivity and ensure balanced results and outcomes.
Ethics and Compliance Programmes and Training
We recognize the importance of ethics and compliance programs and we work with companies to put in place effective compliance programs. These include anti-bribery and corruption programs as well as competition law programs. We further recognize that it is important that any organization carries out Compliance training to ensure that it is always compliant.
compliant with the law. The firm specializes in training in the area of Ethics and Compliance programs, Corruption Awareness, prevention, detection, and eradication as well as Competition law. We therefore provide training in these areas. We also help clients develop due diligence checklists for purposes of these two programs, with regard to the third parties they deal with, and we help put in place a monitoring and evaluation process for purposes of ensuring compliance.
Our Consultants will help you put in place a robust ethics and compliance program.