With the recent MENA-OECD working group firmly established in early 2019 to standardise processes in the Middle East especially the UAE, Chief Governing Officers (CGOs) have predicted a significant governing impact across organisations in four main areas in the Middle East: Diversity, disclosure, data and data integration framework (DIFs). The organisation driving this change is the Hawkamah Institute in the UAE across government, energy and financial sectors.
What do Chief Governing Officers do next?
Corporate governance assessments, framework validation and capacity building
Board of Directors development programme to build transparency and disclosure
Impact across state-owned enterprises based on OECD recommendations
Corporate leadership and the essentials of aligning organisational structure and framework with key objectives
Audit committees are empowered with authority in organisations to make suggestions in the overall governance strategy. Compliance compromise may happen with decision making, remuneration, audits, nominations, rewards and recognition in the organisation. It’s the responsibility of the audit compliance committee to propose and highlight any deviations. However, it’s the board of director who has to finally take a decision to integrate changes for a sustained governance strategy.
How can the BOD be empowered for a sustained governance strategy using audit compliance findings?
Board within a board concept: Empowering the audit compliance team to act as a titular BOD during the audit process
Addressing concerns of BOD about any compliance committee items on the agenda before the actual audit
Using third party auditors to audit internal compliance committee findings
Check out the incredible speaker line-up to see who will be joining Abdulaziz.
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