Audit Report
Content
• Introduction
• Softlogic Holding Ltd.
• Auditors role in Corporate Governance
• Audit Committee of Softlogic Holding Ltd.
• Audit Committee’s influence in Corporate Governance protocols at Softlogic Holdings
• The Cadbury Committee and Softlogic’s Corporate Governance Strategy
• Analysis
• Recommendations
Introduction
• International Standard on Auditing (ISA) 260: “Communications of Audit Matters with Those Charged with Governance”
• Governance is the term used to describe the role of persons entrusted with the supervision, control, and direction of an entity.
The purpose of this report is to identify the importance and relationship between the audit committee of Softlogic Holdings Ltd. and its corporate governance objectives. This report would identify the structure, importance and roles played out by the audit committee and top management’s perspective on complying with corporate governance standards.
According to the World Bank Corporate governance is “the system by which companies are directed and controlled”. It involves the balance of powers among three key corporate constituencies: the board of directors, which is charged with monitoring, overseeing, and guiding the company; the shareholders, who invest their funds in the company’s shares and, therefore, have the right to elect and possibly dismiss directors; and, the company’s management, whom the board hires to run the company on a day-to-day basis.
The Securities and Exchange Commission bares the interpretation that Good corporate governance is globally accepted as being fundamental to an organization’s competitiveness, growth and sustainability. The SEC emphasizes that there is great attention on Boards of Directors to discharge their duties with high ethical values and accountability in their commitment to good governance practices. Strong business ethics, sound policies and procedures, effective and efficient
• Introduction
• Softlogic Holding Ltd.
• Auditors role in Corporate Governance
• Audit Committee of Softlogic Holding Ltd.
• Audit Committee’s influence in Corporate Governance protocols at Softlogic Holdings
• The Cadbury Committee and Softlogic’s Corporate Governance Strategy
• Analysis
• Recommendations
Introduction
• International Standard on Auditing (ISA) 260: “Communications of Audit Matters with Those Charged with Governance”
• Governance is the term used to describe the role of persons entrusted with the supervision, control, and direction of an entity.
The purpose of this report is to identify the importance and relationship between the audit committee of Softlogic Holdings Ltd. and its corporate governance objectives. This report would identify the structure, importance and roles played out by the audit committee and top management’s perspective on complying with corporate governance standards.
According to the World Bank Corporate governance is “the system by which companies are directed and controlled”. It involves the balance of powers among three key corporate constituencies: the board of directors, which is charged with monitoring, overseeing, and guiding the company; the shareholders, who invest their funds in the company’s shares and, therefore, have the right to elect and possibly dismiss directors; and, the company’s management, whom the board hires to run the company on a day-to-day basis.
The Securities and Exchange Commission bares the interpretation that Good corporate governance is globally accepted as being fundamental to an organization’s competitiveness, growth and sustainability. The SEC emphasizes that there is great attention on Boards of Directors to discharge their duties with high ethical values and accountability in their commitment to good governance practices. Strong business ethics, sound policies and procedures, effective and efficient