Paper 11: Corporate Governance and Ethics

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About Course

The Professional courses are administered at Foundation, Intermediate and Advanced Levels. Each level requires an average of one year, though candidates are advised to provide for an additional one year to meet requirements for internship/ practical experience.

A student must book for a minimum of three papers in a level in any order unless is exempted or has credits.

This course is aimed at persons who wish to qualify and work or practice as corporate secretaries, policy formulators, and consultants in governance, governance and compliance auditors and administrators at county and national levels and in the private sector.

Course Content

Overview of Corporate Governance and Ethics
1.1    Defining corporate governance 1.2    Importance of corporate governance and ethics 1.3    Pillars of good corporate governance 1.4    Principles of good corporate governance 1.5    Comparative corporate governance system 1.6    Evolution of corporate governance 1.7    New models for corporate governance and ethics  1.8    Ethics and the law 1.9    Universality of ethics 

  • Overview of Corporate Governance and Ethics Part 1

Theories of Corporate Governance and Ethics
2.1    Agency Theory 2.2    Stewardship Theory 2.3    Stakeholder Theory 2.4    Legitimacy Theory 2.5    Resource dependence theory 2.6    Political theory 2.7    Transaction cost theory 2.8    Deontology Theory 2.9    Utilitarianism Theory 2.10    Rights Theory 2.11    Virtue Theory

Board governance models 
3.1    Advisory board  3.2    Patron governance model  3.3    Cooperative model  3.4    Management team model  3.5    Policy board model  3.6    Fund raising board model  3.7    Traditional Model  3.8    Carver board model  3.9    Cortex board model  3.10    Consensus board model  3.11    Competency board model  3.12    Governance of family-owned firms 3.13    Emerging Board governance models: case study of independent offices and constitutional commissions in Kenya

The Board of Directors
4.1     Appointments 4.1.1    Appointments of directors, composition and size 4.1.2    Appointment of the Chair 4.1.3    Appointment of the CEO 4.1.5    Appointment of Corporate Secretary/Governance Professional  4.1.6    Appointment of external auditor           4.2     Governance body roles and responsibilities 4.2.1    The legal context 4.2.2    The role of the Chair 4.2.3    Separation of roles of the Chairman, CEO and Corporate Secretary 4.2.4    Board induction and continuous skills development 4.2.5    The role of the board and management 4.2.6    CEO and other executives’ succession planning 4.2.7    Strategy performance and reporting 4.2.8    Policy 4.2.9    Oversight 4.2.10    Accountability 4.3     Board Performance assessment and effectiveness 4.3.1    Board structure and composition 4.3.2    Board Procedures 4.3.3    Board functions and behaviors 4.3.4    Advancing corporate governance from compliance to competitive advantage 4.3.5    Assessing performance and remuneration of directors and senior management 4.3.6    Board effectiveness

Internal Corporate Documents
5.1    Constitutive documents including memorandum association, articles of association, Bylaws, Trusteed, and constitution 5.2    Shareholder agreements  5.3    Board manual and charter 5.4    Board annual work plan 5.5    Internal regulations of the organisation 5.6    Codes of Corporate Governance 5.7    Codes of Ethics 5.8    Performance evaluation tools

Governance of Risk
6.1    Strategic risk and the board 6.2    Risk appetite framework 6.3    Different types of risk 6.4    Board oversight functions 6.5    Internal control framework 6.5.1    Internal auditor 6.5.2    External auditor 6.5.3    Audit Committee 6.5.4    Internal audit guidelines and procedures 6.6    Compliance risk 6.7    Best practices for overseeing risk, assurance and reporting

Environmental, Social, and Corporate Governance (ESG) Framework  
7.1    Environmental protection 7.2    The triple bottom line 7.2    Social audit 7.3    Sustainability  7.4    Diversity 7.5    Corporate reputation and image 7.6    Corporate Social Responsibility: Strategies, policies, ethical issues and impact of CSR  7.7    Shareholder and stakeholder relations 7.8    Stakeholder rights, interests and obligations 7.9    Stakeholder dispute resolution 7.10    The dynamics of institutional investors

Ethical Behavior
8.1    Understanding ethics, morality, values and integrity  8.2    Ethics versus regulation 8.3    Ethics and corporate governance 8.4    Roles of the board in promoting ethical conduct 8.5    Defining business ethics 8.6    Key components of ethical policy 8.7    Ethical culture 8.8    Resolving ethical dilemmas 8.9    Conflict of interest and related party transactions 8.10    Insider trading 8.11    Standards of conduct and personal integrity 8.12    Becoming a transparent organisation 8.13    Organisational integrity 8.14    Whistle blowing 8.15    Ethics and technology 8.16    Ethics and globalisation 8.17    Transparence and disclosure in promotion of corporate ethical culture  

Compliance with Laws and Regulations
9.1    Overview of legal and regulatory framework on governance and ethics 9.2    Constitutional provisions on governance and ethics 9.3    Compliance strategy 9.4    Legal and compliance audit 9.5    Role of professional and regulatory bodies in promoting governance and ethics 9.6    International legislative and regulatory frameworks

Contemporary Issues and Case Studies in Corporate Governance and Ethics

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