The Champions of Governance (COG) Award
The Institute of Certified Public Secretaries of Kenya (ICPSK) in year 2010 inaugurated an Award for excellence in governance, titled the “ICPSK Champions of Governance (COG) Award”. The Award which is now in its seventh edition aims at recognizing institutions and individuals that exhibit the highest standards of practice of good governance. The Award aims at promoting practices in good governance in the following ways:-
- Recognition of practice and application of good governance in the both the public and private sector entities.
- Recognition of innovations in organizations that support good governance.
- Encouraging organizations to focus on enhancement of good governance.
Since the inauguration of this Award in 2010, the data collected from the assessment of the participants has been used to develop a governance index for Kenya the Champions of Governance Index (CGI). The CGI is based on an analysis of data collected during the four years of the Champions of Governance Award (2010-2013) and is a national performance indicator on governance based on the governance audit of various organizations in both public and private sectors. The COG Award therefore provides a benchmark for organizations that pride themselves in upholding practices of good governance and recognize the value that good governance brings to their business.
The Award Categories
The Award has the following categories and in each category there are three awards, best in the category and first and second runners up:-
- Agricultural Sector Award
- Finance and Investment Sector Award
- Commercial and Services Sector Award
- Industrial and Allied Sector Award
- Insurance Sector Award
- Statutory Bodies Award
- Small and Medium Enterprises Award
- Co-operative Sector Award
- Retirement Benefits Sector Award
- Water Services Sector
- NGO/Humanitarian Sector Award
- Education Sector Award
- Commission of the Year Award
- Chairman of the year Award
- COG CEO of the year Award
- Company Secretary of the year Award
- Champion of Governance Award
- Most Improved organization Award
COG Award Parameters
The following parameters are evaluated in the governance audit:
- The Board of Directors
- Ethical Leadership and Corporate Citizenship
- Accountability Risk Management and Internal Control
- Transparency and Disclosure
- Shareholders Rights and Obligations
- Shareholders Relationship
- Compliance with Laws and Regulations
- Sustainability and Performance Management
Some of the parameters are applied discreetly, depending on the sector/organization set-up.
The COG Award Process
- All organizations participating in the COG Award are required to pay a nominal registration fee.
- Each organization completes a registration form and submits it to the Institute together with the registration fee.
- Each participating organization is eligible to participate in the Chairman of the Year Award, the COG CEO of the Year Award and the Company Secretary of the Year Award.
- After registering and paying the registration fee, a self assessment form is sent to the organization for completion. This form should be returned to the Institute within 7 days of receiving it, together with all the supporting documentation.
- A team of two Assessment Consultants are assigned to the organization to carry out the evaluation.
- The data collected from the organizations is then analyzed appropriately. The organizational performance is classified into sector ranking, overall ranking and other categories.
- The evaluation results are submitted to a Jury of eminent persons for decision making.
- The decision of the Jury is final.
- A Gala night is held to award winners of the Award.
- A Governance Audit report is submitted to the organization by the Assessment Consultants.
- A Post-COG Award Workshop is held to review the Award process.