The Boardroom Governance Summit for Shaping Accountability in the Boardrooms

It was a great honour and priviledge for me to attend The Boardroom Governance Summit for Shaping Accountability in the Boardrooms as the Director for the GLOBAL QUALITY ASSURANCE ASSOCIATION (GQAA). The THEME: Director Accountability, Governance & Long-Term Sustainable Development – The Inextricable Link, was apt, timely and highly relevant.

The unique event which attracted more than 300 directors and board members was the 1st of its kind in Ghana. It was held at the Labadi Beach Hotel, Accra. It was organized by Prof Douglas BOATENG, the Ministry of Finance & State Interests & Governance Authority (SIGA). Below are some of the most important things that were emphasized and learnt during the event:

i) don’t agree to be a board member if you don’t have time
ii) board members & CEOs have different roles & board members should understand their roles & limits so that they do not run companies & organizations on a daily basis since it is not their role
iii) board members should be trained to upskill, skill and re-tool them in this fast technology driven world
iv) board members should be knowledgeable of the specialist area that they are appointed into, e.g. Construction company, Hospital, Insurance so that they make meaningful contributions & ask the right questions
v) the CEO is accountable to both the shareholders & the board
vi) accountability, honesty, transparency, integrity & ethical considerations in relation to board issues were under-scored
vii) the Environment, Social Responsibility & Governance (ESG) framework, policies & practices are critical for funding and other aspects of the corporate world.