Yakub02
Banned
Requirements for disclosures about corporate governance Institutional investors need information about corporate governance in order to make better investment decisions.
Such information is provided in corporate governance statements as part of the annual report.
Corporate governance statements by listed companies are often quite long. Typically, they fill five or six pages in the annual report and accounts.
The specific content of a corporate governance statement may vary from jurisdiction to jurisdiction, although modern corporate governance reports often rest on similar foundations and require similar disclosures.
Requirements in Nigeria Nigeria has a modern and comprehensive corporate governance code.
The Financial Reporting Council of Nigeria has unified the various sectoral corporate governance codes into one, the Nigerian Code of Corporate Governance 2018.
The Securities and Exchange Commission (SEC) requires that the annual reports of all quoted companies should include a corporate governance statement. The corporate governance report should convey clear information on the strength of the company’s governance structures, policies and practices to stakeholders.
General requirements The report should include the following:
details of the composition of board of directors stating the names of chairmen, CEO and non-executive directors;
the roles and responsibilities of the board setting out matters which are reserved for the board and those delegated to management; details of the process for making board appointments and the induction and training board members.
Such information is provided in corporate governance statements as part of the annual report.
Corporate governance statements by listed companies are often quite long. Typically, they fill five or six pages in the annual report and accounts.
The specific content of a corporate governance statement may vary from jurisdiction to jurisdiction, although modern corporate governance reports often rest on similar foundations and require similar disclosures.
Requirements in Nigeria Nigeria has a modern and comprehensive corporate governance code.
The Financial Reporting Council of Nigeria has unified the various sectoral corporate governance codes into one, the Nigerian Code of Corporate Governance 2018.
The Securities and Exchange Commission (SEC) requires that the annual reports of all quoted companies should include a corporate governance statement. The corporate governance report should convey clear information on the strength of the company’s governance structures, policies and practices to stakeholders.
General requirements The report should include the following:
details of the composition of board of directors stating the names of chairmen, CEO and non-executive directors;
the roles and responsibilities of the board setting out matters which are reserved for the board and those delegated to management; details of the process for making board appointments and the induction and training board members.