The Board has set up 4 committees to assist the Board and its directors in discharging their duties through a more comprehensive evaluation of issues, followed by well-considered recommendations to the Board. The Chairman of each Board Committee reports to the Board on the matters discussed at Committee meetings.
The Board recognises that delegating authority to board committees does not in any way discharge it from its duties and responsibilities.
Board Audit and Risk Committee
To assist the board of directors in fulfilling its oversight responsibilities for :
a) the integrity of the company's financial statements;
b) the company's compliance with legal and regulatory requirements;
c) the independent auditor's qualifications and independence; and
d) the performance of the company's independent auditors.
- Monitoring of Debtors
- Reviewing the risk philosophy, strategy and policy and assessment of the risk management process.
Board Corporate Governance Committee
- Make recommendations to the Board on all corporate governance provisions to be adopted so as to enhance compliance with prevailing governance principles and practices.
- Ensure that the disclosure requirements of the MIoD with regard to corporate governance are in accordance with the principles of the applicable Code of Corporate Governance.
- Report any breach of the Code to the Board.
- Review any statements on ethical standards or requirements for the MIoD and assist in developing such standards and requirements.
- Make recommendations on situations involving any breach of the Code of Conduct and published policies by the officers and Directors of the MIoD.
- Propose and review annually the Corporate Social Responsibility plan of the MIoD (including the CSR budgets).
Board Membership & Nomination Committee
Main responsibilities (in its capacity as Membership Committee):
- Approve members applications
- Resolve any disagreements between members and the MIOD
- Recommend and review criteria for membership categories
- Review and recommend changes to membership fees and subscriptions
- Review and recommend changes to the Membership Rules and Regulations and the Members Code of Conduct
Main responsibilities (in its capacity as Nomination Committee):
- Review and recommend changes to the Nomination Procedures.
- Recommend new board and senior executive appointments and remuneration
Board Education Committee
- The Committee shall oversee all matters concerning training and education activities of the MIoD aimed at the promotion and achievement of the objectives and such related matters as may be referred to the Committee by the Board of Directors within the limits of the powers and duties as specified herein