The Governance Department is responsible for advising the directors and officers on their duties, the Companies Act, SAMA’s Memorandum of Incorporation as well as other regulatory and statutory requirements.
The Governance Department is entrusted with
- - leading and advising on best practice governance principles;
- - championing the legal and compliance framework within which SAMA operates to safeguard the organisational integrity; and
- - promoting and acting as a “sounding board” on standards of ethical and corporate behaviour; among others.
The corporate governance of SAMA is the systems of rules, practices and process by which SAMA is directed and controlled. Corporate Governance essentially involves balancing the interests of the company’s many stakeholders, such as members, management, suppliers, government and the community.
SAMA’s corporate governance also provides the framework for attaining SAMA’s objectives, accordingly, it encompasses practically every sphere of management, from action plans and internal controls to performance measurements and corporate disclosures.