Business model: a company's plan for making a profit. It identifies the products or services the business plans to sell, its identified target market, and any anticipated expenses.

overall objectives

the approach to risk taking including riks appetite

Limits of organizational conduct

مجلس الإدارة بيراقب أربع أشياء أساسية: ازاي الإدارة التنفيذية بتنفذ الإستراتيجية، والأهداف، ونظام الرقابة الداخلية، وإدارة المخاطر

Board is overseeing the implementation of the strategy and management's paractices in managing risks, and applying internal control procedures

بيراقب ازاي: عن طريق مجلس الإدارة نفسه، لجان مجلس الإدارة، المراجع الداخلي والخارجي، govrnment regulators

الإدارة مسئول تجاه المساهمين وأصحاب المصالح

The source of overall direction and ultimate responsibility for oversight أي مصيبة بالشركة هيتسأل عنها

Appoints mng and determines expectations from mng in terms of integrity and ethics

Key decisions زي عمليات الإندماج وإعادة هيكلة الشركات، ورغم ذلك فيه قرارات بتكون أعلى من مجلس الغدارة ولازم ياخد فيها رأي من الجمعية العمومية اللي هم المساهمين زي زيادة رأس المال أو تصفية الشركة

Top -level strategy, strategic planning, monitoring CEOs, overseeing strategy, enterprise management, succession planning, monitoring ERM and IC by CEOs, ethical tone. Directors should employ healthy skepticism in meeting their responsibilities الشك المهني بمعنى مش كل الأرقام اللي بتقولها الإدارة التنفيذية يصدقها مجلس الإدارة لازم يوجه أسئلة صعبة زي مثلا ليه الربح عالي أووي مقارنة بالعام الماضي، أو ليه ما حققناش هامش ربح اعلى من كدا

البورد لازم يقيم أداء الإدارة فمثلاً يسألهم عن تحقيق ال budget

Because BOD are responsible for questioning mng's act., it is important that BOD members are independent of the company. independnt= no materila financial interest or persoanl ties with the company. So, independent director is not an officer or employee of the company and thus is not active in the day-to-day management of the company

the board should have procedures in place to evaluate on an annual basis the CEO, the board committees, the board as a whole, and individual directors يجب أن يكون لدى مجلس الإدارة إجراءات مطبقة لتقييم الرئيس التنفيذي ولجان مجلس الإدارة والمجلس ككل والمديرين أنفسهم (بمعنى إن مجلس الإدارة بيقيم نفسه) على أساس سنوي

Roles of board chairman and CEO should be separate

بشكل عام كل لجان مجلس الإدارة عندها ميثاق أو Charter خاص بيها وبيحدد شوية حاجات زي مسئولياتها ايه ؟وبتتكون من مين؟، وبتريبورت لمين؟

should have a charter authorized by the board. This charter outlines how the committee will be organized, duties and responsibilities, and how they report to the board.

Composed of independent directors only, and the committee should have access to independent outside advisors who report directly to the committee تطلب استشارة من الخارج سواء فرد أو شركة

consider compensation amount and mix (short term vs. long term, cash vs. equity) for CEos and directors

It is important for the compensation committee to assess the potential risks and rewards of short term compensations in order to ensure that it is an appropriate way to incentivize executives and directors.

Short-term compensation generally covers basic needs and encourages employees to stay with the company for the short-term, while long-term compensation is more focused on providing a return on investment to employees and encouraging them to stay with the company long-term. short such as salaries and bounes, long such as stock. Long term compensation يعني أوعده انه يكون جزء من .الشركة

responsible for supporting executive mng in managing company's risks

charter includes purpose, compoistion, membership,roles,responsibilities,meetings,performance and reporting

General responsibilities:

General requirements

Membership

Responsibilities related to financial Statements

Responsibilities related to Governace, risk and Internal Control

Responsibilities related to Internal Audit

Responsibilities related to External Audit

Responsibilities of CEO are determined by BOD. CEO's responsibilities can be extensive or limited depending onhow much authority and responsibility which BOD delegates to CEO (Delegation of Authority)

CEO should not serve as chairman of the BOD since board's responsibilities include monitoring CEO, and so that conflict of interests is minimized

Reporting and accountable to CEO/BOD

Totally separated from BOD

Performs day-to-day governance functions and operational activities

Performs ERM practcies

Designing and implementing an internal control system

Appointment

General responsibility

External auditor's report

All public companies الشركات المدرجة should maintain an effective, full-time internal audit function that reports directly to the audit committee through CAE

are eyes and ears of BOD and audit committee and has an important role in the governance function of the organization

Plays a primary monitoring role in assessing IC system, effectiveness and efficiency of operations, and compliance with laws and regulations

Are not independent from the enity (as the external audit is), but they are independent of the functions and processes they are auditing

designing and maintaining ERM or IC system isn't reponsibility of internal audit but executive mng