Policies and Procedures Manuals

Policies and procedures manuals represent the flow of policies and resolutions approved by the Board of Directors and the executive management to all organizational units in clear and documented manner to ensure that the same are properly implemented. Further, documented and approved policies and procedures manuals ensure that the processes are recurrently implemented based on standard approach and quality of deliverables is attained on timely basis. This will help all organizational units to operate consistently and achieve their objectives in accordance with the approved strategic and operational plans, and ultimately put the business entity on the path to success.

Organizational Structure

An organizational structure is a system that outlines how certain activities are directed in order to achieve the goals of an organization. These activities can include rules, roles, and responsibilities.

The organizational structure determines how information flows between levels within the company. For example, in a centralized structure, decisions flow from the top down, while in a decentralized structure, decision-making power is distributed among various levels of the organization.

Having an organizational structure in place allows companies to remain efficient and focused.

Delegation of Authority Matrix

The documentation of the Delegation of Authority Matrix is a key requirement of the internal control in business entities as it defines the financial and administrative responsibilities and authorities delegated to the incumbents in charge of approving the decisions and transactions within business entities. This will enhance the control and governance of work flow of official transactions in the business entities and prevent fraud and deceit. This concept applies to all business entities on optional basis.

Corporate Governance Reporting

The BSC Closed companies are required to submit periodic reports on the applications of corporate governance.

Furthermore, the board of directors should provide report on corporate governance in the agenda of shareholders’ general meeting and the company’s annual report.