Corporate Governance Assessment in financial institution

Corporate Governance Assessment in financial institutionWeak and ineffective corporate governance mechanisms in banks are pointed out as the main factors contributing to the recent financial crisis. Moreover, a bank’s failure to follow good practices in corporate governance and the lack of effective governance are among the most important internal factors which may endanger the solvency
of a bank. Therefore, Rabitabank decided for the first time to outsource and conduct Corporate Governance Assessment in respect to the good practice, new local legislation, COSO & BASEL guidelines.

Key project information

  • Country:

    Azerbaijan

  • Financing/Donor:

    Azerbaijan Chamber of Accounts

  • Client/Project Beneficiary:

    Rabitabank JSC.

  • Project Size:

    Small (<$50k)

  • Contractor type:

    Sub-contractor

  • Contract period:

    November 2014 - February 2015

Assignments delivered by Prima

PRIMA prepared training materials, elaborated training program, prepared guidelines, handouts and manuals for the participants as well as supplied with case study, practical exercises and relevant legislation.

Our assessment included the company's risk profile in seven areas:

  • Governance policy and business ethics
  • Risk management processes
  • Ownership structure and control
  • Reporting, audit, and verification
  • Board structure and management
  • Board and executive compensation
  • Investor rights and relations

Looking for a similar consulting services?