Regulatory Alerts2020-01-02
Governance Audits
The Capital Markets Authority is amending the Code of Corporate Governance to shift the frequency of mandatory governance audits from annually to at least once every two years, with risk-based adjustments allowed for certain issuers. Issuers must have completed at least one audit and demonstrated proactive implementation of findings to be eligible for a two-year cycle, while those consistently underperforming may face annual requirements. Boards are required to publish their degree of adherence to governance standards and the formal audit opinion within their respective annual reports.
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