Friday Nov 29, 2024
Friday Nov 29, 2024
Monday, 19 May 2014 00:02 - - {{hitsCtrl.values.hits}}
Prof. King is a senior counsel and former judge of the Supreme Court of South Africa. He is a Professor Extraordinaire at the University of South Africa on Corporate Citizenship, Honorary Professor at the University of Pretoria and visiting Professor at Rhodes University. Prof. King is also Chairman Emeritus of the Global Reporting Initiative in Amsterdam, a member of the private sector advisory group to the World Bank in Washington and chairman of the Asian Centre for Corporate Governance in Mumbai.
The Corporate Directors Program will help strengthen the understanding of; the responsibilities that are implicit in a board mandate, the laws and regulations, performance and compliance and corporate social responsibilities of the board and the directors. The program which will be conducted over ten sessions will feature a combination of lectures, panel discussions and work group sessions. The panel will consist of representatives from the corporate community, regulatory agencies, corporate lawyers, financial analysts and auditors and assurance providers.
CA Sri Lanka President Arjuna Herath emphasised that a director’s role is both critical and wide in their capacity as trustees of shareholders.
“In today’s complex and constantly changing world, challenges are part and parcel of a director’s daily life. Therefore, as an institute which is championing good corporate governance and is continuously endeavoring to offer the country’s professional community with the thought leadership and most pertinent of programs for their further advancement, CA Sri Lanka takes great pride in introducing the Corporate Directors Program together with SEC,” he said.
Herath noted that the Corporate Directors Program has been developed with a view to ensure directors of all listed companies are familiar with what is expected of them as directors, while ensuring that they have the capacity to effectively fulfill their corporate role.
Beneficial to both directors and companies they serve
“I believe this will be an important program vastly beneficial to both the directors and the companies they serve because it will not only enhance their knowledge and skills, but will also give them the opportunity to apply the new found knowledge and skills gained from the program for the long term progress and success of their organisation,” he added.
The program which will kick off on 26 June 2014 targets executive and non-executive directors of public listed companies, directors of state owned enterprises, shareholder directors of family connected companies and senior professionals aspiring to be directors.
Corporate Directors Program Chairman Asite Talwatte said that the ‘Corporate Directors Program’ is unique in its structure and content, bringing in all dimensions of directorship at a sufficient level of depth and breadth making it practical, futuristic and interactive.
“We have recognised the importance of conformance and performance, while providing a platform to discuss sustainability and corporate social responsibility.
A well acclaimed panel with diverse skills will enrich the experience, providing a blend of theory and practical insights. The programme is timely as Sri Lanka is ready to take off into a high growth middle income country,” he said.
CA Sri Lanka Chief Executive Officer Aruna Alwis noted that CA Sri Lanka and SEC jointly issued the Code of Best Practice on Corporate Governance 2013, which came into effect from 1 January 2014. “The Corporate Directors Program is in furtherance of that joint initiative to provide a platform for directors to strengthen their understanding of; their responsibilities, the laws and regulations, performance, and compliance, governance and corporate social responsibilities,” he added.
Following the successful completion of the program, participants will receive a recognised credential in the field of governance from CA Sri Lanka and SEC, enabling them to be informed, progressive and compliant corporate directors.
