Access Financial Strengthens Corporate Governance with Board Committee Change
- Access Financial
- Mar 26
- 2 min read
Tuesday, February 17, 2026: The Board of Directors of Access Financial Services Limited (AFS) has announced an adjustment to its Audit and Risk Management Committee, a move which has strengthened its corporate governance framework. Effective immediately, Johann Heaven, a non-independent director, has stepped down from the committee, leaving a majority of independent directors in the new composition.
In an official notice to the Jamaica Stock Exchange (JSE), the company said Heaven’s resignation from the Audit and Risk Management Committee satisfies the requirement for a greater number of independent directors in keeping with Appendix 1 of the JSE Junior Market Rules. It quoted: “Audit Committee means a committee established by the Board whose membership comprise of at least three (3) Independent Directors, one of whom shall be the Chairman of the Committee. The Independent Directors shall comprise the majority of the membership of the Audit Committee, at least one (1) of whom shall have an accounting or financial background.”
According to the JSE rules, the Audit and Risk Management Committee is responsible for reviewing the company’s unaudited and audited financial statements and recommending them for approval. The committee also recommends the appointment of external and internal auditors; monitors and reviews the effectiveness of the internal audit functions; among other assigned duties.
Chaired by independent director Dr. Tamiko Sadler, the five-member committee includes two other independent directors – board chairman Michael Shaw and attorney-at-law Justine Collins; and two non-independents – company founder Marcus James and Charmaine Boyd-Walker.
Heaven, the Group President & CEO at PROVEN Management Limited, remains an active member of the Board, to which he brings more than 30 years of experience in the financial services sector.
Noting that all regulatory bodies have been apprised of the change, the company re-iterated its commitment to improving corporate governance and ensuring strict compliance to the rules of the JSE.
With a branch network of 17 locations across the island and a wholly owned subsidiary, Embassy Loans Inc, in the US state of Florida, Access Financial Services remains a leader in the microfinance sector. Audited financials as at March 31, 2025 show that the company manages $8.11 billion in assets and has a loan portfolio of $6.17 billion.
CONTACT:
Carla Stephens-Mullings
Legal & Corporate Affairs Manager
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