Calbank PLC, UKGCC holds seminar on good corporate governance

Calbank PLC, UKGCC holds seminar on good corporate governance

Calbank PLC and the United Kingdom Chamber of Commerce(UKGCC) have held a seminar on good corporate governance.

The motivate of the program was to scrutinize and provide best practices for beneficial corporate governance, including the parties responsible for its implementation and monitoring in corporate governance failings, the reactions, and implications of these failings, and get a good awareness of the status of good corporate governance reforms in public institutions as well as provide an open platform for participants to share feedback and their expectations of government.

Barbara Benson, the Chief Risk Officer at Calbank PLC also added that the tents of risk management are all about identifying, monitoring, treating, and enhancing processes but it has about four crucial aspects that every company should have.

"All the processes we put in place, the policies that should guide the organization in taking a risk".

Again, the founder of Corporate Law Institute Mr. Felix Ntrakwah on his part hinted that every organization has a social responsibility towards its environment and must not condone the community as their works have an impact on society.

"Institutions without layouts, boards that don't operate, and board chairs who also serve as managing directors face a slew of issues."

However, an expert in corporate governance, Catherine Engmann, who is the Head of Sirdar Ghana Limited mumbled that corporate institutions should pursue the mandatory processes to make their companies accomplish.

According to her, the significances of the board members are very important if corporate governance is to be efficient and successful.

"Corporate governance, in my opinion, does not operate." The ideals of the boardroom's executives are far more essential.

Corporate governance will not work if the ideals of the leaders do not correspond."

"You can use the values of the board member, their skills, and their assessment to neutralize the board."

“Not only do you need fundamental talents, but also specialized skills; do you need legal experience, do you need them to work in a telecom firm, and do you need them to be diverse? Mrs. Engman stated that "diversity of opinion is more important than gender or tribe."

She also expressed worry about the disconnection between the board of directors of companies and their values, which she described has become the bane for most institutions.

She characterized that the best frameworks might be in place to ensure adherence to corporate governance, but it’s only achievable when members are aligned.

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