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Journal of Best Practice Guidelines Vol. 1 No. 2 April 2017

  • Governance Issues for Boards to Consider in 2017 and beyond: Boards of today have the difficult task of steering their organisations, while maintaining proper governance, through these complicated times. With growing unrest globally, fluctuating markets and the matters of internal organisational management, there is a lot to stay abreast of. Boards need to ensure that they stay focused and have clear strategic plans around many potential sink-holes. The Corporate Governance Network has highlighted some of the dominant governance issues that boards should consider now and beyond. The concepts and issues discussed in this paper are Cyber security, Emerging technology, Crisis management, Over-legislated and Regulated landscape, Risk Oversight, Board skills, composition and diversity, Conflict of Interest, Physical security and Ethical Challenges.

  • The Business Judgement Rule: The role of the director is a critical one for both the company and the economy to succeed. Business involves taking risk for reward. In making their decisions, directors must weigh-up this risk and reward. In this context, the business judgement rule serves as an important defence to directors from liability for actions taken bona fide and in the best interests of the company. This Journal explains what is imperative for the directors, in order to avail themselves of protection and to stay within the scope of their duties as prescribed by CAMA.

 

  • Director Due Diligence on Board Appointment: From a company’s perspective, it is important to undertake a due diligence on prospective directors to ascertain whether they are suitable for consideration and should be nominated for appointment i.e. whether they have the right knowledge, skills and personal attributes to effectively fulfil their legal duties. This article explains what the organisation should be mindful of, the legal and governance contexts?  What are the questions to consider and reasons? How should organisation manage gaps in expectations especially when the individual has most of the skills and attributes?

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