Download Governance and Secretarial Audit KASNEB Notes
CS PART 3 SECTION 6
COURSE OUTLINE
GENERAL OBJECTIVE
This paper is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to effectively plan and conduct a governance and secretarial audit.
LEARNING OUTCOMES
A candidate who passes this paper should be able to:
- Identify the objectives and scope of governance and secretarial audits
- Design and implement a governance and secretarial audit strategy
- Prepare and interpret various governance and secretarial audit reports
- Analyse the various check-lists/work sheets for governance and secretarial audits
- Conduct board evaluations.
CONTENT
Professional framework for governance audits
Governance Audit Guidelines and Tools
- GG 003: Governance Audit Guidelines
- GG 004: Governance Audit Peer Review Mechanism
- Governance audit tools
- Engagement letter
- Management letter
- Management representations
Codes of Governance
- Code of Governance for State Corporations ( Mwongozo) 2014
- Code of Corporate Governance Practices for Issuers of Securities to the Public
- Code of Governance for Private Organisations
Introduction to governance auditing
- Nature, purpose and scope of the governance audit
- Authority and responsibility of the governance auditor
- Advantages and disadvantages of governance audit
- Types and timing of governance audits
- Legal framework for governance audit
- General principles of governance audit
- Governance audit criteria
- The role ICS in governance and secretarial auditing
Download Governance and Secretarial Audit KASNEB Notes
Governance control and compliance
- Management control systems in corporate governance
- Objectives and importance of governance control systems
- Management of information in governance audit
- The importance of governance control in risk management
Governance auditor engagement
- Appointment, qualification, rights, duties and dismissal of governance auditors
- Governance audit proposal
- Acceptance procedures
- Governance audit engagement
- Agreed upon procedures
- Soliciting for clients and advertising
Planning for governance audits
- Preparing for a governance audit
- Governance audit strategy
- Developing governance audit plan and programme
- List of documents to be reviewed for the governance audit process
Conduct of governance audit
- Reviewing the governance and internal control systems
- Documentation in governance audit
- Coordination in the conduct of governance audit
- Governance compliance checklists
- Group governance audits
- Role of in-house corporate secretary, internal auditor, external auditor, audit committee, regulatory oversight bodies and other governance assurance functions
- Process of governance audit
- The governance audit cycle
- Governance audit tools
- Scoring methodology
- Data analysis
- Communication between governance auditor and client organisation
Governance audit evidence and review
- Nature and sources of governance audit evidence
- Types of governance audit evidence
- Techniques of gathering governance audit evidence
- Limitations in gathering governance audit evidence
- Types of governance audit tests
- Governance audit sampling
- Using the work of experts
Download Governance and Secretarial Audit KASNEB Notes
Post governance audit
- Nature and scope of subsequent events
- General guidelines on subsequent events
Peer review mechanism
- Purpose, scope and types of peer review
- Responsibilities of parties in peer review
- Peer review mechanism stages
- Quality management and assurance measures
- Confidentiality requirements
Governance auditor’s report
- Purpose and users of governance auditor’s report
- Contents and elements of governance auditors’ report
- Types of governance audit reports
- Consequences of various governance audit reports
- Review of statutory reports, returns and other governance documents
- Types of governance audit reports
- Filing governance audit reports with relevant authorities
Governance Audit Report
Governance Awards in practice
- The ICS Governance Awards, other regional governance awards
- Parameters evaluated in the governance awards
- Award evaluation tool and scoring
- Governance Index
