INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established Under Accountants Act, Laws of Kenya)
THE 6th BOARD MASTERCLASS
Theme: Preparing the Future – Ready Board for Enhanced Organizational Value
Date: 21st – 25th August 2023
Venue: Sarova Whitesands Beach Resort & Spa, Mombasa
Overview
Today’s corporate boards face unprecedented dynamics such as intense media scrutiny; pressure from institutional investors, shareholders, hedge funds and short-term investors; drastic market fluctuations within a given industry among other external and internal factors. These dynamics present multi-faceted challenges to any contemporary organization’s leadership no matter how experienced they may be. One of the key responsibilities of board members is to maintain financial accountability of their organization. Board members act as trustees of the organization’s assets and must exercise due diligence to ensure that the organization is well-managed and that its financial situation remains sound. For an effective board, accountability goes beyond financial performance and sustainability. It includes intentions and conduct of the board members both collectively and severally.
The board of directors is the performance standard setter and custodian, foundation builder, corporate strategic plan developers and managers and the first owner of the corporate vision and mission. The board steers the organization towards meeting its mission, ensure its financial stability and are the public face of your organization.
The 5-Day Master Class is geared to provide a platform for discussions on what works and what does not as lined up in each of the 5 modules as indicated below. This Master Class is intended to equip new and current board members with the prerequisite knowledge on the roles of the board, strategy formulation, alignment and review, risk management and the role of the board amongst other areas. The Master Class will also offer an avenue for networking with other board members drawn from both public and private sectors.
LEARNING OBJECTIVES:
This program is divided into the following five modules covering the various aspects of Board Competence:
| DAY | MODULE | TOPICS | KEY AREAS TO BE COVERED |
| DAY 1 | A. The Role of the Board | 1. What do Boards do?
2. The Performance versus Conformity Dilemma 3. Relationship between Board & Management 4. The Board & Delegation of Authority 5. The High Impact Board |
1. The agency theory in Corporate Governance
2. Accountability: Board members first duty 3. Matters reserved for the Board vs delegated items 4. Delegation for empowerment vs control 5. Relationship between Board, Management and Staff 6. Creating a high impact Board |
| DAY 2 | B. The Board & Strategy | 1. Effective Strategy Formulation by the Board
2. Alignment of Strategy to Organizational Mandate 3. Involvement of Expert Advisors 4. Strategy Review for Enhanced Value |
1. The Board & Governance of Strategy
2. Alignment of organizational Mission and Vision to Strategy 3. Use of experts in strategy formulation 4. Involvement of key stakeholders in strategy formulation 5. Conducting an effective board strategy review |
| DAY 3 | C. Risk Management & the Board | 1. The Board’s Responsibility in Risk Management
2. Risk in the Board Room 3. Leading Practice in Risk Management Responsibility by Boards 4. Board Succession Planning |
1.The ERM Framework
2. Setting the Risk Appetite 3. Risks facing the Board 4. Creating the Risk intelligent organization 5. Succession planning for the Board as a whole |
| DAY 4 | D. Board Committees, Competence and Skills | 1. The Role of different Committees & how they support the Board.
2. Board Members & Value Addition 3. Financial Reporting for Directors 4. Technology and the automation agenda for Boards |
1. The Board Finance Committee
2. The Board Audit Committee 3. The relationship between the Board and its committees 4. Financial Reporting for Directors – What directors should know from the periodic financial reports and ratios presented to them. 5. Technology and the automation agenda for Boards- The role of the Board in ERP development and digital transformation 6. Building your Board room capital 7. Achieving the right Board mix |
| DAY 5 | E. Moving Forward & Lessons for Boards | 1. Why do Boards Fail?
2. Dangers of Group Think 3. Case Studies of Successful Boards 4. Boards of the Future |
1. Contributors to Board malfunction
2. Group think, domineering Chairman, CEO, and unchallenged ideas/decisions 3. Power games / Power play in the Board room 4. The Future Ready Board |
Target Audience:
Board Members, Board Chairpersons, Board Committee Members and Committee Chairpersons, Board Secretaries, CEOs, Senior Management, Aspiring Board Members, Business Owners and Entrepreneurs,
Your investment:
This Master Class shall be provided at a cost of Kes.80,000.
Continuous Professional Development Units:
Members of ICPAK and other reciprocating professional bodies will earn 20 CPD points upon successfully attending the Master Class.
Online Booking:
We call on all participants to note that booking is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is MANDATORY. This is available either online at www.icpak.com/events or on the ICPAK Live – A smart phone based application that is available from google store.
National Industrial Training Authority (NITA) Reimbursement:
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke)
PARTNERSHIP OPPORTUNITIES
The training presents a perfect opportunity for organizations to showcase their products & services to a target group with high purchasing powers, both on personal and corporate levels. You will also have a unique opportunity for brand positioning and communication that will enjoy optimal visibility. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. For more information or enquiries please email raphael.nguli@icpak.com
Further requests can be channeled to us via telephone calls on, +254 719 074 100, or via email to Fredrick Otwori at fredrick.otwori@icpak.com with a copy to memberservices@icpak.com
We encourage members to regularly visit our website https://www.icpak.com for updates
