The development of charters for the Board of Directors and its committees will ensure efficiency and effectiveness of the board performance, and enhance the board supervision of the executive management. Such charters include:
- Board of Directors Charter.
- Audit Committee Charter.
- Risk Management Committee Charter.
- Nominations and Remunerations Committee Charter.
This concept applies to all business entities on optional basis.
For companies regulated by Capital Markets Authority in the State of Kuwait, they should comply with the requirements of the Executive Regulations of Law No. 7 of 2010 comprising sixteen modules where Module 15 – Corporate Governance – contains controls and criteria to be considered when developing the Board of Directors and its Committees Charters.
Added value to business entities from BOD and its Committees Charters Services
- Clearly define the roles, responsibilities and authorities of the Board of Directors and its committees.
- Enhance corporate transparency.
- Ensure compliance with regulatory requirements, when applicable.
Services provided by Baker Tilly
Development of Board of Directors and its Committees’ Charters.