Corporate Governance Revisited

17 Basic Principles of Corporate Governance Leadership, ethics and corporate citizenship 1. The governing body should lead ethically and effectively.

Displaying quiet competence

Before proceeding with today’s article, we refer to the Government’s announcement that nine companies are interested in the allocation of the remaining oil blocks and that it is exploring options for both direct engagement and selective bidding.

The ExxonMobil advertisement

The authorities have decided to remove the Guyana Sugar Corporation (GUYSUCO) from the portfolio of entities under the Ministry of Agriculture and place it under the Ministry of Finance via the National Industrial and Commercial Investments Ltd.

The Petroleum Commission Bill 2017

The legitimate authority for the collection of all State revenues is the GRA, and no Minister or official should have the discretion to decide what amount of such revenue should be transferred to the Consolidated Fund.

Environmental auditing

  Audit is not an end in itself, but an indispensable part of a regulatory system whose aim is to reveal deviations from accepted standards and violations of the principles of legality, efficiency, effectiveness and economy of financial management early enough to make it possible to take corrective action in individual cases, to make those accountable accept responsibility, to obtain compensation, or to take steps to prevent or at least render more difficult, such breaches.