Performance Monitoring

Corporate governance is a number of processes, customs, policies, laws, and institutions which have impact on the way a company is controlled. An important theme of corporate governance is the nature and extent of accountability of people in the business, and mechanisms that try to decrease the principal-agent problem

• Monitor performance of Public Entities (PEs)
• Assist Government in reviewing strategic objectives and setting performance targets of PE’s
• Facilitate screening suitable candidates to serve on PE Boards and monitor their performance

Benefits of Corporate Governance

• Good corporate governance is an essential tool to ensure that companies are run well and efficiently. It also determines whether a company prospers or fails.
• Good Corporate Governance also ensures that there is transparency as well as ethical conduct and that disclosure requirements are strictly observed, which are at the core of Corporate Governance. 
• It compels the Board of Directors and Management to always act in the best interest of the company.
• Good Corporate Governance gives a country global reputation
• It also assists a country to attract FDI because it instills confidence in investors.
• Reporting and accounting standards adopted by Public Enterprises (PEs) are also important measures of corporate governance.

.The Responsibilities of Performance Monitoring Department are to:-

• Advocate for good corporate governance practices within PEs
• Review PE strategic objectives and facilitate setting of performance targets at shareholder level
• Entrench adoption of corporate governance instruments within PEs
• Monitor and evaluate overall performance of PE’s and recommend appropriate interventions
• Advise on the selection of non-executive directors of PEs and instituting board and director performance appraisal processes
• Advises on appropriate interventions required to influence policy in the area of good Corporate Governance