CORPORATE

GOVERNANCE,
BUSINESS ETHICS, RISK
MANAGEMENT AND
INTERNAL CONTROL
ESTABLISHING
BOARD
COMMITTEES
what is a committee?
A board committee is a small
working group identified by the
board, consisting of board
members, for the purpose of
supporting the board’s work.
The board should establish
board committees that focus on
specific board functions to aid in
the optimal performance of its
roles and resposibilities.
AUDIT
COMMITTEE
An audit committee can be defined as a
sub-committee in the governing body
that will make arrangement for internal
audit and facilitate the completion of
external audit.
The audit committee plays a key role in
assisting the board in relation to a
company’s:
> Financial reporting
> Internal control systems
> Risk management system
> The internal and external audit
function
CORPORATE
GOVERNANCE
COMMITTEE
Appointed by the board of
directors to develop and
recommend policies regarding
corporate governance and to
advise the board with respect to
director compensation.
BOARD RISK
OVERSIGHT
COMMITTEE
establishes the purpose,
qualifications and
membership, stucture and
operations, duties and
resposibilities of the board
RELATED PARTY
TRANSACTION
COMMITTEE
A transfer of resources, services or
obligations between a reporting entity,
regardless of wether a price is
charged. It should be interpreted
broadly to include not only
transactions that are entered into with
related parties.but also outstanding
transactions that are entered into with
an unrelated party that subsequently
becomes a related party.
THANK
YOU!!