Governance Audits are becoming critical in providing assurance to stakeholders that the organization has embraced good governance practices in order to achieve its strategic objectives. In the recent past, the legal and regulatory framework in Kenya has recognized the important role of Governance Audit as evidenced below:
- The Companies Act, 2015 makes it mandatory for all Quoted Companies to annually assess the extent to which they observe corporate governance policies and strategies.
- The Code of Corporate Governance Practices for Issuers of Securities to the Public 2015 as gazetted by the Capital Markets Authority requires the Board to subject the company to an Annual Governance Audit by a competent and recognized professional accredited for that purpose by ICPSK.
- Mwongozo, the Code of Governance for State Corporations in Kenya, requires State Corporations to carry out an Annual Governance Audit by a member regulated by ICPSK and accredited for that purpose. Likewise,
- ICPSK Code of Corporate Governance for Private Organizations in Kenya also calls for Annual Governance Audits.
The Council of the Institute is in discussions with potential partners for purposes of promoting the practice of Governance Audit both locally and outside Kenya. Through a consultative process the Institute has developed comprehensive training materials including participants’ workbooks, a Governance Audit Manual, Governance Audit Tools and Standards, and Trainers’ Guidelines to ensure quality Governance Audit processes and programmes. In view of this, the Institute designed the Governance Auditors Accreditation course to train, refine and accredit its members as Governance Auditors to competently undertake Governance Audits and related assignments for both public and private sectors. The accredited Governance Auditors will also conduct ICPSK COG Award assessments.
See below the list of participants who successfully undertook the Governance Auditors’ Accreditation Course.