THE NINE PILLARS
Pillar 1: Adopt a formal corporate governance
framework outlining the roles of the key
bodies such as partners, shareholders, board of
directors and management.
should be responsible for monitoring and evaluating
Step 1:
Step 3:
evaluation
Step 2:
Step 4:
specifying matters reserved for shareholders and the
Pillar 2: Conduct a succession planning process.
Step 1:
process
and
regularly
review
the
Pillar 6: Maintain credible books of accounts,
which are annually audited by an external
auditor.
Step 1: Companies should follow credible accounting
Step 2: Companies should have a rigorous succession
planning methodology in place providing for both planned
Step 2: Companies should formally evaluate the
Pillar 3: Establish a timely, open and transparent
Step 1:
companies should establish clear lines of communication
Step 2:
policies on preserving the independence of the audit
Pillar 7: Set up an internal control framework
in place and conduct a regular review of risk.
Step 1: Companies should establish a formal process
Pillar 4: Endeavor to set up a formal Board
of Directors to accompany the growth of the
company.
management should adopt formal control mechanisms
Step 2:
Step 1:
Step 3: Companies should consider establishing an
Pillar 8: Recognize the needs of stakeholders.
Step 2:
Step
Step 1:
3:
Companies
should
consider
appointing
Step 2: Targets relating to the management of
Step 4:
Pillar 5: Develop a clear mandate for its
Board of Directors to oversee the operational
performance of the business as well as evaluating
and improving business strategies.
Step 1:
Pillar 9: Formulate a framework setting out
the family’s relationship with the business.
Step 1:
setting out the family’s vision and policies regulating
Step 2:
procedures should be established to facilitate effective
communication and coordination between family
Step 2:
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