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Role Of Audit Committee In Corporate Governance (3)

 
Committee members must be committed in terms of being available to perform the relevant tasks; a member who is serving in several boards or has other time engaging activities may not perform well in the audit committee, diversity of experience and knowledge of the membership help to pluralise the perspectives and add value to the quality of discussions of the audit committee. 

Role of Audit Committee in Corporate Governance (2)

In ordinary and common language, the primary purpose of the audit committee is oversight. The committee for the purposes of the CAMA shall assist the Company in overseeing:-
• Management’s handling of the company’s financial reporting process; 
• The integrity of the financial statements and other financial information provided by the company to the regulatory authorities and the general public; 

Festive Season Beckons…

Another year is petering to an end; it seems incredible that almost 12 months (of 2012) have been completed. But that is life. From “mewling…puking infants” as Shakespeare put it, we progress in disparate fashion towards the grave, as it were.
It was just over two years ago that I began to write this column; a column I am very proud of, by the way. Sometimes I have produced fine, sublime work, other times I believe I have descended so low as far as bathos is concerned, inflicting half-baked or wooly opinions on the readers. But life is like that.

Role of Audit Committee in Corporate Governance (1)

The audit committee of a public company is a creation of statute. The Companies and Allied Matters Act in S.359 (3) in a roundabout way created the audit committee for public companies in Nigeria.
This sub-section required of auditors of a public company to make a report to the audit committee (which shall be established by that public company) on the accounts, every balance sheet and profit and loss account, and on all group financial statements examined by them.

The Role Of NBA In Expanding Practice Scope And Creating Jobs For Lawyers (3)

Law firms may merge or consolidate their practices for a number of reasons, chief of which is to provide better services for their clients and create more value for all concerned.
We must bear in mind that legal practice is an integral part of the  normal economic system involved in the production of goods and services in a society, consequently activities impacting the practice are sometimes driven not only by the internal business needs of the particular law firm, but also by events in the larger economy as a whole.

The Radiance Of The Cup

The magic, and allure of football cup persists all over the world – with virtually every nation having its own major cup competitions usually won by the most prestigious clubs in the elite division. It might well be that “colonial mentality” will always be at work consciously or perhaps in subtle fashion, but even till date most of the world continues to look up to the English Cup competitions in particular!

The Radiance Of The Cup

The magic, and allure of football cup persists all over the world – with virtually every nation having its own major cup competitions usually won by the most prestigious clubs in the elite division. It might well be that “colonial mentality” will always be at work consciously or perhaps in subtle fashion, but even till date most of the world continues to look up to the English Cup competitions in particular!

The Role Of NBA In Expanding Practice Scope And Creating Jobs For Lawyers (2)

The guidelines encourage organisations to develop “effective programmes to prevent and detect violations of law,” and prescribe seven “types of steps” that should be included in an effective programme. Where organisations demonstrate an effort to implement the seven steps, lower sanctions are levied by federal judges. The seven steps involve:
1. Organisational implementation of compliance standards and procedures that are reasonably capable of reducing the prospect of criminal conduct. 

The Role Of NBA In Expanding Practice Scope And Creating Jobs For Lawyers (1)

 
The Nigerian Bar Association, NBA seems to be aloof and generally disconnected from the Nigerian society and is not perceived as a stakeholder in a lot of issues.  A few examples can suffice:

Musing On DVDs

I seemed to make a bee-line for the 2, 3 DVDs I wanted at the shop. With great speed I had browsed through the shelves, knowing I would probably find any two DVDs I would care to watch, anyway. Thereafter I took them to the cashiers for payment.
It was an attractive shop in the heart of Sanlam plaza in the city. Here musical CDs and general DVDs, especially movies are sold. I did not come here often, but when I did, I made it snappy. I have never been one for window-shopping.

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