The Institute of Chartered Accountants of Nigeria and NGX Regulation Limited worked together to organize a corporate governance training aimed at increasing capital market stakeholders’ understanding of the audit committee’s responsibilities.
Investors and other stakeholders came to the session on Tuesday at the Exchange Group House in Lagos to learn more about the audit committee’s responsibilities, regulatory obligations, and other topics.
“This training is in line with NGX RegCo’s quest to uphold the integrity, transparency, and efficiency of the Nigerian capital market,” said the Chief Executive Officer of NGX RegCo, Tinuade Awe, in her opening remarks.
NGX RegCo’s interaction with Issuers is essential to attaining the overall objectives of a healthy capital market. This program was conducted by NGX RegCo and ICAN to educate shareholder representatives of audit committee members of listed firms about their expected responsibilities in making sure that their companies adhere to best practices in corporate governance.
“Today’s training is geared towards equipping Audit Committee members with the requisite knowledge to make positive contributions at Committee Meetings and to enhance their regulatory duties as Audit Committee members of Listed Companies,” Awe continued, represented by the Head of Broker Dealers Regulation, Olufemi Shobanjo.
During the event, the Coordinating Director of the Financial Reporting Council’s Inspection & Monitoring and Corporate Governance Directorates in Nigeria, Mr. Titus Osawe, made a point about how important board committees are to a company’s corporate governance framework.
He stated, “As they are positioned to guarantee that the proper system of rules, practices, and processes are in place in the entity they serve as Board members, directors play a crucial role in strengthening corporate governance practices within an organization.
Their role in fostering a culture of good corporate governance is pivotal in companies and Board committees are one avenue through which this is seamlessly achieved.”
