CA – Sri Lanka, CFA Society webinar today on effectiveness of independent directors

CA - Sri Lanka and CFA Society – Sri Lanka will hold a virtual discussion titled ‘Composition, role and effectiveness of independent directors’ today (1 October) from 3.30 p.m. onwards.

It will focus on the practices of several countries across Asia Pacific, how they benchmark with the principles of best practices, the pros and cons of these practices, and their applicability and relevance to Sri Lanka.

CFA Director – Capital Markets Policy – India Sivanath Ramachandran, will deliver a presentation on the research outcomes of a recently published CFA Institute report on regulations and practices relating to independent directors in Asia Pacific, which provides an overview of regulations and practices concerning Independent Non-Executive Directors in listed companies in Asia and Pacific, focusing specifically on Australia, Hong Kong, India, Japan, Malaysia, and Singapore.

A panel discussion will follow comprising SEC Director – Corporate Affairs Dr. Harshana Suriyapperuma, CSE Chief Regulatory Officer Renuke Wijayawardhane, Tokyo Cement Group Chairman Dr. Harsha Cabral PC and Ceylon Chamber of Commerce Chairman/Sunshine Holdings PLC Group Managing Director Vish Govindasamy. The discussion will be moderated by CA – Sri Lanka Chairman Corporate Governance Committee Asite Talwatte who is also the Management Systems Ltd. Chairman.  

Representatives from the SEC and the CSE will explain the current and proposed regulatory framework applicable in Sri Lanka, while experienced corporate directors and lawyers will discuss practical application of the regulations and the code of best practice of corporate governance followed in Sri Lanka. 

During the discussion, insights will be shared on expectations from Independent Non-Executive Directors from the company's perspective, minority shareholders perspective, and the regulators perspective as well as the key question of ‘do they add value?’ 

This webinar which will be especially beneficial to chairmen, CEOs, and board directors of listed companies in Sri Lanka. It intends to impart knowledge on best practices and discuss certain core principles and practices of corporate governance with specific reference to the appointment, roles and responsibilities of Independent Non-Executive Directors.

The CSE and the Ceylon Chamber of Commerce are the strategic partners of the event.