Chapter 1
Chapter 1
WHAT IS GOVERNANCE?
Equity & Inclusiveness Ensures that all its members feel that they have a stake in it
and do not feel excluded from the mainstream of society. This
requires all groups, but particularly the most vulnerable, have
opportunities to improve or maintain their well-being.
2. Self-Assessment
B. Accountability
C. Corporate Control
3. Promote ethical and responsible decision 3-a. Establish a code of conduct to guide the
making. Actively promote ethical and
directors, the chief executive officer (or
responsible decision-making.
equivalent), the chief financial officer (or
equivalent) and any other key executives as
to:
The practices necessary to maintain
confidence in the company’s integrity; and
The responsibility and accountability of
individuals for reporting and investigating
reports of unethical practices
3-b. Disclose the policy concerning trading in
company securities by directors, officers and
employees.
4. Safeguard integrity in financial reporting. 4.a. Require the chief executive of (or
Have a structure to independently verify equivalent) and the chief financial officer
and safeguard the integrity of the (or equivalent) to state in writing to the
company's financial reporting. board that the company's financial
reports present a true and fair view, in all
material respects, of the company's
financial condition and operational
results and are in accordance with
relevant accounting standards.
5. Make timely and balanced disclosure. 5.a. Establish written policies and
Promote timely and balanced disclosure procedures designed to ensure
of all material matters concerning the compliance with IFRS.
company. 5.b. Listing Rule disclosure requirements
and to ensure accountability at a
senior management level for
compliance.
6. Respect the rights of shareholders and 5.a. Design and disclose a communications
facilitate. the effective exercise of those strategy to promote effective
rights. communication with shareholders and
encourage effective participation at
general meetings.
5.b. Request the external auditor to attend the
annual general meeting and be available
to answer shareholder questions about
the audit.
7. Recognize and manage risk. 7-a. The board or appropriate board
Establish a sound system of committee should establish policies
risk oversight and management on risk oversight and management.
and internal control. 2-a. The chief executive officer (or
equivalent) and the chief financial
officer (or equivalent) should state to
the board in writing that:
10. Recognize the legitimate interests of 10-a. Establish and disclose a code of
stakeholders. Recognize legal and other conduct to guide compliance with
obligations to all legitimate stakeholders. legal and other obligations to
legitimate stakeholders.
REVIEW QUESTIONS
Questions