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{
    "id": 45823,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/45823/?format=api",
    "text_counter": 250,
    "type": "speech",
    "speaker_name": "Mr. Wako",
    "speaker_title": "The Attorney-General",
    "speaker": {
        "id": 208,
        "legal_name": "Sylvester Wakoli Bifwoli",
        "slug": "wakoli-bifwoli"
    },
    "content": "Mr. Temporary Deputy Speaker, Sir, I will try to move fast because it is a big document. Another concept that has been introduced on page 1475 is that each quoted company must appoint an audit committee which is appointed by the shareholders and not by the directors to make directors accountable. The concept of corporate governance, which we have been hearing of, is incorporated under Clause 468. This clause deals with corporate governance principles that are appropriate for the nature and scope of the business, established policies, strategies for achieving them annually, ways of measuring adherence to these policies and strategies, establishment of standards of business conduct and ethical behaviour for directors, managers and other personnel, including policies on private transactions and self-dealing and other transactions. That will be the duty of the audit committee appointed by the shareholders. It will come up with the corporate governance policy."
}