African Union (ii) Describe the requirements for holding meetings of shareholders, owners and other stakeholders and for dialogue between the Board or other governing body and shareholders, owners and other stakeholders. (iii) Describe the requirements for organisations to have websites and the information that should be disclosed on the website, include differences between the sectors, if any. Include other forms of disclosure in view of limited role of internet (iv) Describe organizational compliance with the above, including differences between the sectors (v) Describe any sanctions against organizations or individual members of the Board for noncompliance with the laws regulations, standards and codes mentioned in this section and provide evidence of enforcement (vi) Describe the mechanisms available for managing conflicts of interest (e.g. disclosure mechanisms of interested directors including mechanisms for ensuring arms length transactions with interested parties) (vii) Describe mechanisms for sanctioning directors, including the effectiveness of legal and regulatory penalties for non- compliance, director disqualification, mechanism for tracing property and limits on cross-directorships QUESTION 3: How does the corporate governance framework ensure timely, transparent and accurate disclosure of information on all material matters regarding the organization? INDICATORS (i) Prepare a schedule of the requirements for disclosure of information (financial and nonfinancial) by the organizations listed above in objective one including but not limited to the following: a) Disclosure of remuneration of members of the board b) Disclosure of the organisation‟s policy relating to board remuneration c) Disclosure of related party transactions (ii) Definition of related parties and related party transactions (a) Definition of related party transactions (International Accounting Standard 24) (b) The following are “Related parties”:  a member of the Board or of the key management personnel of the organisation; any other person that significantly controls or influences the organisation; any close member of the family (such as the individual's domestic partner and children, children of the individual's domestic partner and other dependants of the 57