Website definitions

Corporate Governance is concerned with the way entities are governed, as distinct from the way businesses within those companies are managed.

Corporate Governance deals with both conformance and performance issues of an entity.

The business and affairs of a company must be managed by, or under the direction or supervision of a board of directors of a company.

A Director when exercising powers or performing duties, must act in good faith and in what the director believes to be the best interests of the company.

An Independent Director has no material connection to the entity and is not an employee of the entity.  This enables them to make informed and impartial decisions on behalf of the entity.

Company Secretaries are constantly relied upon by the members of the board for guidance and advise on matters that may relate to the company or to their position as members of the Board.

The Company Secretary should be well versed with securities laws and regulations to advise directors of companies on disclosure requirements.

The role of the Company Secretary in handling company meetings is purely administrative and includes the following:

  • Arrange and liaise with the chairman and/or managing director for agenda papers and items for the agenda
  • Book and prepare the meeting room
  • Attend and take down minutes of the meeting
  • Follow up on decisions made
  • Play an advisory role to the chairman and the board of directors

A Chief Financial Officer also known as a CFO, is the corporate officer primarily responsible for managing the financial risks of the business or entity. This definition contains an implied emphasis on strategic decision-making, though the CFO is also responsible for financial planning, record-keeping, and financial reporting to higher management.

A good CFO is one who can listen, interpret and communicate.  CFOs see the vision of the company and work as enabler to achieving this through strategy input and linking into the mission of the entity.

All entities wish to grow.  Most doing this require money and strong leadership.  Having a CFO who can act as a visionary for your entity as well as interpret and operate various departments will naturally benefit any organisation.

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