The development of charters for the Board of Directors and its committees will ensure the 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 an 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 Kuwait
Development of the Board of Directors and its Committees’ Charters.
- Organizational Structure
- Job Structure
- BOD & Executive Management Performance Appraisal Systems
- Corporate Performance Appraisal Systems
- Code of Professional Conduct and Ethics
- Delegation of Authority Matrix
- Processes, Policies and Procedures Manuals
- Job Descriptions
- Salary Survey
- Compensation and Benefits Structure
- HR Planning System
- Employee Performance Appraisal Systems
- Qualifying Business Entities for ISO Certificates