Corporate governance refers to sound and responsible management of business operations. In this context, Kuwait’s regulatory authorities, i.e., Central Bank of Kuwait, Capital Markets Authority and Insurance Regulatory Unit, mandate the respective supervised entities to implement the corporate governance instructions issued by them. Further, several international organizations, such as the Organization for Economic Co-operation and Development (OECD), have established governance principles and encouraged member countries, including Kuwait, to adopt and implement them in their business environments.
Governance can be divided into two types:
- Regulatory Governance: Focuses on the structural and functional framework to ensure oversight, transparency, and collective management within an organization.
- Operational Governance: Involves implementing frameworks in line with international standards, such as ISO standards and sustainability reporting, to enhance execution efficiency and ensure sustainability and growth.
Baker Tilly provides comprehensive consulting services in both regulatory and operational governance.
