Taycoon BOD Committees
[1] Audit Committee
oversees financial reporting, internal controls, and the audit process to ensure the integrity and accuracy of financial statements.
- Financial Reporting Oversight: Review financial statements for compliance with accounting standards.
- Internal Controls: Improve the effectiveness of internal controls and risk management.
- External Audit Oversight: Appoint external auditors and monitor their independence.
- Internal Audit Oversight: Approve internal audit plans and ensure committee access.
- Compliance Monitoring: Ensure compliance with laws and regulations.
- Whistleblower Programs: Handle financial complaints effectively.
- Communication: Maintain dialogue among the Board, management, and auditors with regular updates
[2] Risk & Compliance Committee (RCC)
A crucial role in safeguarding the organization’s assets, ensuring regulatory compliance, and supporting sustainable business practices.
Its governance framework helps foster a culture of risk awareness and accountability across the organization.
- Risk Management Oversight: Identifying different types of risks, setting risk tolerance levels.
- Compliance Monitoring: Ensuring regulatory compliance, developing policies.
- Reporting and Communication: Providing regular updates.
- Collaboration: Working with other board committees & compliance strategies with company objectives.
- Crisis Management: Developing crisis management plans .
- Review and Evaluation: Regularly assessing the effectiveness of risk and compliance programs.
[3] Compensation & Benefits Committee
an essential part of a company’s board of directors, responsible for ensuring that executive compensation aligns with the company’s strategic goals and best practices. Its key responsibilities include:-
- Executive Compensation Oversight.
- Performance Evaluation.
- Compensation Philosophy Development.
- Retention Strategies.
- Succession Planning.
- Market Bench marking
- Compliance..