Deloitte Ghana has held a training on Corporate Governance and Compliance under Ghana’s Companies Act, 2019 (Act 992) for professionals from various sectors of the economy.

The training focused on corporate governance as a tool in the proper governing of corporations for the overall success of companies, good governance lessons from the Bank of Ghana’s 2018 Corporate Governance Directive as well as Environmental, Social and Governance (ESG) trends.

The objectives included understanding corporate governance requirements under Act 992, understanding ESG and how it is shaping corporate governance and evaluating the effectiveness of corporate governance and board performance.

The participants were taken through sessions such as shareholders’ role in corporate governance, the role of the audit committee, tax risk management and governance as well as corporate governance effectiveness and board performance evaluation.

Addressing the participants, Country Managing Partner of Deloitte, Daniel Kwadwo Owusu, explained the importance of corporate governance, saying, it is the foundation of a business, designed to achieve the core objectives of organisations.

“When you have a leader who embraces corporate governance, the set corporate governance structures rapidly transform the growth of the business”, he pointed out. 

On his part, Gideon Ayi-Owoo, Tax Partner, said the training will immensely help the participants to appreciate the important role corporate governance plays in an efficient and successful businesses.

He also highlighted the importance of on ESG, saying, it would become an essential compliance requirement for many organisations in the future.

Some of the benefits of good importance of corporate governance include promotion of ethical behaviour to ensure compliance with laws and regulations, protection of shareholder interests and prevention of abuse of power by executives.

Regarding ESG, it has now become a criterion used by investors to assess a company when making investment decisions.