A governance audit is an independent assessment of an institution with a view of expressing an opinion on the adequacy and effectiveness of the systems, policies, processes and practices of an organisation. Governance audits provide Boards and Management with the assurance they need that proper and adequate governance structures are in place for ensuring adoption of best practices in corporate governance, enabling the achievement of business goals and delivering long-term value to stakeholders.
In conducting Governance Audits, Dorion Associates reviews key documents, Board/Committee minutes, and analyses the governance policies and practices of the Board using various methods of data collection. A governance audit focuses on the following parameters: leadership and strategic management, transparency and disclosure, compliance with laws and regulations, communication with stakeholders, Board independence and governance, Board systems and procedures, consistent shareholders and stakeholders value enhancement and corporate social responsibility and investment.
Following the completion of an audit, Dorion Associates prepares an audit report which helps to measure how best an organisation is governed and how to make the Board more effective and better performing. The audit report also helps an organisation to identify governance gaps, which if promptly addressed lead to improved standards of governance practice, mitigation of governance risks and enhanced compliance with relevant laws and regulations