Compliance and Internal Controls:
1. Internal Audit Function:
- Conduct regular audits of Capex and Opex projects
- Evaluate internal controls effectiveness
2. Compliance Officer:
- Ensure adherence to regulatory requirements
- Monitor compliance with company policies
3. Financial Reporting:
- Accurate and timely financial reporting
- Compliance with accounting standards & regulatory requirements.
Communication and Stakeholder Engagement:
1. Stakeholder Identification:
- Identify key stakeholders (investors, customers, employees)
- Develop stakeholder engagement strategies
2. Transparency and Disclosure:
- Provide timely and accurate information
- Ensure transparent decision-making processes
3. Communication Plan:
- Develop communication plan for Capex and Opex projects
- Ensure stakeholder awareness and understanding
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Performance Monitoring and Evaluation:
1. Key Performance Indicators (KPIs):
- Establish metrics for Capex and Opex project evaluation
- Monitor and report KPI performance
2. Project Review and Evaluation:
- Regularly review project progress
- Evaluate project success and lessons learned
3. Budgeting and Forecasting:
- Develop annual budgets and forecasts
- Monitor and report variances
Continuous Improvement:
1. Regular Review and Update:
- Review governance framework annually
- Update policies and procedures as needed
2. Training and Development:
- Provide training on governance framework
- Develop employee skills and knowledge
3. Best Practices:
- Research industry best practices
- Implement improvements to governance framework
