Good corporate governance practices key to curbing mismanagement

Business News of Tuesday, 14 March 2017

Source: Myjoyonline.com

2017-03-14

Corporate GovernanceFile photo

Former Deputy Senior Partner at accounting firm KPMG, Reindorf Perbi has attributed the slow pace of adoption of good corporate governance to certain lapses in the system.

Recent reports of mismanagement in certain public and private sector organizations have triggered discussions about the need for business owners in the country to adopt good corporate governance practices.

Although there have been efforts to sensitize businesses, the rate of adoption has been slow.

Speaking to JOYBUSINESS at a corporate governance dialogue organized by Association of Chartered Certified Accountants (ACCA) in partnership with the International Finance Corporation, the private-sector arm of the World Bank, he said business owners need to seek advice.

“Elsewhere, there is an Institute of Directors where business owners can go to for expert advice on the necessary structures to direct and control their businesses,” he noted.

Mr. Perbi also highlighted the role of the Registrar General’s Department in ensuring that businesses meet all requirements, especially as required in the filing of audited financial statements.

The Corporate Governance Dialogue is part of a 3-year campaign launched in 2015 to promote improved corporate governance practices in Ghana.

Explaining the motive for organizing the forum, Head of ACCA Ghana, Doris Yaa Aggrey Ahiati said, “Beyond producing professionals, we need an environment that is supportive of their practice”.

She added that corporate governance and its adoption is critical in ensuring business continuity and sustainability

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