Corporate governance is about how a company is run and controlled. It sets out the rules, responsibilities, and decision-making framework between owners (shareholders), the board of directors, management, and other stakeholders.
Why Corporate Governance Matters?
- Trust and Confidence: Good governance makes investors, regulators, and customers feel secure.
- Better Risk Control: Helps reduce financial, operational, and reputational risks.
- Sustainable Growth: Ensures the business is managed responsibly and with a long-term view.
- Regulatory Compliance: Keeps the company aligned with UAE laws and global governance standards, avoiding penalties and damage to reputation.
Good Corporate Governance – Doing Business the Right Way
Good governance goes beyond following rules. It’s about running a company with transparency, fairness, and accountability at every level.
How to Build Ethical Business Practices:
- Define Roles Clearly: Make sure the board, committees, and management have well-defined responsibilities.
- Set a Code of Conduct: Encourage integrity, prevent bribery, and address conflicts of interest.
- Risk and Compliance Checks: Keep an updated risk register and conduct regular internal audits.
- Delegation of Authority: Set clear approval limits so decision-making is accountable, and misuse of power is avoided.
- Board Performance: Review how the board functions, including its diversity, decision-making, and effectiveness.
- Transparency: Share timely and accurate financial as well as non-financial information with stakeholders.
- Sustainability & ESG: Build strategies that reflect environmental, social, and governance (ESG) priorities.
Our Corporate Governance Approach for UAE Businesses
- Steering a Governance Maturity Assessment to benchmark current practices against regulatory requirements and global best practices.
- Preparing a Comprehensive Risk Register, categorizing and assessing all material risks across operational, financial, compliance, and strategic areas.
- Developing a formal Delegation of Authority (DoA) Policy and Matrix, ensuring clarity around approval levels, responsibilities, and segregation of duties across all departments.
- Drafting and implementing Board and Committee Charters aligned with applicable regulations and corporate governance standards
- Forming and embedding a Code of Conduct, Conflict of Interest Policy, and Whistleblower Mechanism, fostering a culture of transparency and ethical behaviour.
- Establishing a framework for conducting Regular Board and Executive Evaluations, ensuring continuous improvement in leadership effectiveness.
Affiniax as Your Governance Partner
- Achieved full compliance with applicable Regulatory Corporate Governance Standards — improving readiness for regulatory reviews and audits.
- Strengthened Risk Oversight and Accountability, supported by a comprehensive and dynamic risk register.
- Fostered transparent and well-controlled Decision-Making through the robust DoA framework and clearly defined Board and management roles.
- Enhanced organizational reputation, building Trust among Investors, Regulators, and other key Stakeholders.
- Laid the foundation for Sustainable Corporate Performance and Governance Excellence — positioning the company for future growth.
Affiniax Partners can guide you with corporate governance strategy, for building trust, reducing risks, ensuring compliance. Contact us to learn more.
