Why rot pervades our institutions

To succeed you need to understand some simple rules.

First, the board of directors owe their institutions a solemn duty to select and oversee competent and ethical management team to run its affairs.

Second, the management appointed must learn to operate effectively under the realms of ethical and professional standards.

Third, the management under the oversight of the board and its audit and risk management committee should provide factual financial data which represents the true and fair position of the institution at any given moment in time.

One philosopher once quipped, “Ethical standards are evolutionary and must change over time. A professional’s ethical standards reflect the social, legal, economic, political and cultural norms of a society at a given time. As norms and values and circumstances change, ethics rules must change as well.”

Kihuro is a Risk Management Practitioner at Panafrican Housing Financial institution, Shelter Afrique, headquartered in Nairobi jkihuro@yahoo.com