As the course director of HKiNEDA, Dr. Lawrence Wong conducted training course on the Module 4 of the INEDA Advanced Training Program: “Board Committee Essentials for INEDs” in 14 Nov 2019.
The class explained the role of board of directors, as the key, strategy planner and leader of the company, are responsible for deciding the company’s risk appetite, thus finalising the company’s strategic plan and specific goals to ensure the establishment of an effective enterprise internal control and risk management system.
The board of directors will delegate some of its powers and functions to different committees. All listed companies must set up at least the following three committees:
1. Audit Committee: responsible for internal control, risk management and efficient financial system to produce accurate financial reports
2. Remuneration Committee: responsible for compensation strategies and specific content and proportion of all board of directors and seniors
3. Nomination Committee: responsible for ensuring the diversity of the composition of the board of directors to meet the needs and development of the company, and establish a long-term inheritance plan for the main positions of the board of directors
Board of Directors
Corporate Governance Committee