A Nairobi-based consultancy firm will next month open a corporate governance school amid rising company failures due to malpractices.
The institution dubbed Traction School of governance will offer short courses on ethical corporate practices and Certified Secretary certificate –which is examined by Kenya Accountants and Secretaries National Examinations Board (Kasneb).
Scribes Services, a corporate governance consultancy firm, will operate the school whose tutors will be industry practitioners expected to infuse practical knowledge.
Bernard Kiragu, managing partner at Scribes Services, said Traction School will seek to reverse the diminishing number of governance trainees.
“This is in contrast with the growing demand for governance advisory services in line with increased regulatory scrutiny and introduction of tougher governance rules,” said Mr Kiragu.
The schools comes as Kenya implements stringent Code of Corporate Governance Practices for Issuers of Securities to the Public 2015, which becomes effective in March 4 and requires firms to make good corporate governance an integral part of business dealings and culture
The code demands diversity and independent in the composition of boards, verification and protection of financial reports as well as timely and balanced disclosure of material information.
Company secretaries ensure their firms’ compliance with regulatory requirements, making their role prominent.