CmaBylaw
Executive Bylaws
3-10 Of Module Fifteen: Corporate Governance
Section: Chapter Three: Rule II: Establish Appropriate Roles and Responsibilities
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Wednesday, 15 February 2017
Below are some roles and responsibilities of the executive management to be complied with, in light of powers and authorizations granted thereto by the Board of Directors: 1. Execute all company internal policies and regulations which are approved by Board of Directors. 2. Execute annual strategy and plan approved by Board of Directors. 3. Prepare periodic reports (financial and non-financial) concerning the accomplished growth of the company’s activity in light of the company strategic plans and goals and submitting these reports to Board of Directors. 4. Set integrated accounting system which keeps books, records and accounts that reflect in detail and accurately the financial statements and income accounts, which enable keeping the company’s assets and preparing financial statements in accordance with international accounting standards approved by the Authority. 5. Manage daily work and activity facilitation. This is in addition to managing company resources optimally, increasing profits and decreasing expenses in accordance with the company goals and strategy. 6. Participate effectually in ethical values culture building and development in the company. 7. Set internal audit and risk management systems and ensuring efficiency and sufficiency of the same as well as commitment with risks appetite approved by the Board.
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