Governance Audits- the back story….

WHAT is a Governance Audit?- It is an examination on the Corporate Governance Practices, Procedures and relationships between the Board, management, staff and stakeholders external to an organisation and providing an independent opinion on how these #governance practices are performing.

WHO carries out a Governance Audit?- an Accredited Governance Auditor in good standing with the Institute of Certified Secretaries.

WHERE is it conducted?- It is carried out both on site and offsite. On site as regards observing, confirming and speaking to various contributors to the corporate governance practices of the organisation- Board Directors, Senior Management and staff. Off site as regards collecting further data/desktop research, analysis and preparation of the Audit report and opinion.

HOW it is done?- using various audit methods- information requests, questionnaires, interviews, discussions and meetings with various stakeholders. This leads to the generation of the audit report, opinion and future recommendations.

So WHY do a Governance Audit?- the preferred answer is so that an organisation can improve its corporate governance practices from the insights and recommendations received. Else, in Kenya, it is a compliance requirement for publicly listed companies, pension schemes and state corporations.

At Akira Consult, we strongly believe that what cannot be measured cannot be managed or improved. To build #sustainablebusinesspractices , we must act sustainably, including in our corporate governance practices. Reach out to us at enquiries@akiraconsult.ke to schedule an assessment on how we can work together to improve your #corporategovernance practices.