Checklists provide tangible guidelines how Directors can improve governance. We like checklists. Especially when they relate to IR.
The IoDSA has established the Governance Assessment Instrument (GAI), an automated web-based tool which will serve as both a measure and an enabler of good corporate governance structures and practices. The tool has different modules catering for all business sectors, including listed companies, SMMEs, state-owned entities, medical funds, pension funds, NPOs, etc.
The GAI facilitates implementation and also serves as a rating mechanism of governance and will officially be launched at a cocktail event on Wednesday, 10 March 2010 in Durban.
I have not seen the new corporate governance appraisal platform in its current form. I would like to see how the product deals with the King III Code’s governance requirements relating to communications as the statements within the King III Code are too fuzzy to have any meaningful impact.
If you are not already a member of the IODSA I thoroughly recommend it. It’s value for money. Click here to join.
I am not sure an African version of the GAI has been developed – it’s probably too early for this given the levels of distraction executives are enduring at the moment. I think that it’s going to take a high level corporate collapse or some form of litigation relating to disclosure to sharpen executives’ attentions.