When you look at the widespread unemployment in the country, you will acknowledge the fact that there is an obvious and apparent difference in the bargaining power between employers and employees in the country. You will therefore understand why our Industrial courts have a high concern for employees; and fully accept that in their interpretation…
Taxation on Donations – Finance Act 2022/2023 People often consider tax collection as legalized robbery but despite having to pay more than is considered necessary in some instances, most citizens do comply with their tax obligations as non-compliance can lead to serious consequences. Nevertheless, due to recent changes in the law, some organizations and firms…
The Court of Appeal sitting in Nakuru have finally put this matter to rest in the case of Rift Valley Water Services Board & 3 Others v Geoffrey Asanyo & 2 Others in the Judgment delivered on 10th June 2022. Background The 1st Respondent to the above matter was appointed to serve as a board…
Professionalize your hustle today Research shows that most people living in third-world countries are middle class earners. For instance, according to the Kenya National Bureau of Statistics, the people middle-class are those who earn between Ksh 23,670 and Ksh 199,999 per month. This is proof that this group of people is not only growing but…
Be it turnover or profitability of a firm, financial issues in business are highly pegged on the strategic management of an entity. All businesses that exist, exist to make a profit, and FOBs are not an exception. It will be a misdemeanor not to discuss how important corporate governance influences the financial affairs in FOBs.
Corporate governance in family-owned businesses is the do or die of most companies. I would like to highlight some of the bottlenecks for sound corporate governance in the areas below
How do foreign companies registered outside of Kenya under the laws of other countries get permission to do business in Kenya under Kenyan law? Any company that wishes to register as a foreign company in Kenya must do so in accordance with the provisions of the Companies Act, 2015. The application must be sent to…
Governance Audit This is an impartial review of an organization with the goal of providing an opinion on the appropriateness and efficacy of the organization’s policies, systems, and practices. It’s a value-added assurance that uses a methodical, disciplined approach to analyze and enhance the efficacy of risk management, control, and governance systems. Advantages of Governance…
An Overview of Principles for Effective Corporate Governance. It is said for any organisationt the buck stops at the top. The success of any organization squarely depends on the executives who are the policymakers in charge of the direction and day-to-day operations. This underscores the importance of corporate governance for any organization. Corporate governance substantially…
BOARD COMMITTEES The Board offers strategic leadership and direction through regular meetings wherein strategies are determined to ensure the proper functionality of company operations. The effectiveness of the board to a large extent impacts the performance of a company. The organization may decide to use independent directors or outside expertise who may wish to form…