APRM • SECOND COUNTRY REVIEW REPORT OF THE REPUBLIC OF KENYA 4.8.3 Recommendations of the Panel 177 CHAPTER FIVE 181 5. CORPORATE GOVERNANCE 181 5.1 Overview 181 5.2 Implementation of Standards and Codes 182 5.2.1 Summary of the Country Self-Assessment 182 5.2.2 Findings of the Country Review Mission 182 5.2.2.1 Progress Made since 2006 182 5.2.2.2 Challenges 186 5.2.3 Recommendations of the Panel 187 5.3 OBJECTIVE ONE: PROMOTE AN ENABLING ENVIRONMENT AND AN EFFECTIVE REGULATORY FRAMEWORK FOR BUSINESS ORGANIZATIONS AND OTHER ENTITIES 187 5.3.1 Summary of the Country Self-Assessment Report 187 5.3.2 Findings of the Country Review Mission 188 5.3.2.1 Progress Made since 2006 188 5.3.3 Recommendations of the Panel 198 5.4 OBJECTIVE TWO: ENSURE EFFECTIVE LEADERSHIP & ACCOUNTABILITY OF ORGANIZATIONS 198 5.4.1 Summary of the Country Self-Assessment Report (CSAR) 198 5.4.2 Findings of the Country Review Mission 199 5.4.2.2 Challenges 202 5.4.3 Recommendations of the Panel 202 5.5 OBJECTIVE THREE: ENSURE ETHICAL CONDUCT WITHIN ORGANIZATIONS 203 5.5.1 Summary of the Country Self-Assessment Report 203 5.5.2 Findings of the Country Review Mission 203 5.5.2.1 Progress Made since 2006 203 5.5.2.2 Challenges 206 5.5.3 Recommendations of the Panel 207 5.6 OBJECTIVE FOUR: ENSURE THAT ORGANIZATIONS TREAT STAKEHOLDERS FAIRLY AND EQUITABLY 207 5.6.1 Summary of the Country Self-Assessment Report 207 5.6.2 Findings of the Country Review Mission 208 | ix |