That Head of ACCA-Ghana, Doris Yaa Aggrey Ahiati has called for corporate governance practices in organizations to enhance efficiency.
According to her, corporate governance practices will leave no chance for unethical and corrupt acts in organizations.
“Corporate governance codes are important for our members to promote and ensure complete business integrity. It provides an efficient and effective framework in which to clarify the principal corporate governance” she said.
Mrs. Ahiati made these statements at the launch of a research by ACCA and KPMG titled “Balancing Rules and flexibility; A study of Corporate Governance Requirements Across Global Markets Phase 2-Africa”.
Giving some highlights of the research, she noted that the exercise looked at 15 markets on the African continent.
Using the Organization for Economic Cooperation and Development (OECD) standards the countries involved in the research were South Africa, which scored 145,Kenya, 128,Mauritiuos, 126, Nigeria,124, Uganda, 120, Egypt 109, Rwanda, 106, and Morocco, 102.
There rest are Tunisia, 96, Mozambique 90, Tanzania, 85, Ghana, 82, Zambia, 80, Malawi, 67, and Ethiopia 59.
“Each of the 15 markets studied has a corporate governance code in place. Corporate governance codes provide an efficient and effective framework in which to clarify principal corporate governance requirements within markets”.
She observed that “but reviewing corporate governance code in isolation from other corporate governance requirements may not give a complete picture”.
Giving more details, Mrs. Ahiati stated that he study reviewed 58 corporate governance instruments containing approximately 1300 requirements.
“This equates to nearly four instruments and 85 requirements on average per market with which directors and other key stakeholders must familiarize themselves”
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By: Lawrence Segbefia/citibusinessnews.com/Ghana