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CORPORATE GOVERNANCE



Corporate Governance Workshop Brochure

Since 2002, the PSOJ has been the leading provider of corporate governance training in Jamaica and has successfully hosted annual Corporate Governance Programmes for Directors.  Our first  workshop for the year  will be a One day Introductory Workshop for Public Sector Boards  which has been scheduled for Saturday, February 16, 2008  at the PSOJ Secretariat.

We invite you to  view our brochure and contact the PSOJ indicating your interest to Stephanie Logan, Violet Vassell or Nichocie Bryan at tel.#927-6238 ext 2255 or 2245 or 2250 or via email: stephaniel@psoj.org, violet@psoj.org  or nichocieb@psoj.org.


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Few takers for PSOJ's Code on Corporate Governance

Yvonne Grinam-Nicholson
Wednesday, July 18, 2007
The Jamaica Observer

 



I last wrote about tried and proven international best practices standards of corporate governance, choosing to look only briefly in my own backyard at the work of the Private Sector Organisation of Jamaica (PSOJ).

The PSOJ now has my full and critical attention as they have invited me to look at our 'yard' creation. Their Code on Corporate Governance (go look it up at www.psoj.org and click on the publications link) was launched last November and is based on the Combined Code on Corporate Governance issued by the Financial Reporting Council of the United Kingdom (2003)....read more

The significance of corporate governance is now widely recognized both for national development and as a part of the international financial architecture, and neatly encapsulated in the words of the President of the World Bank that “the proper governance of companies will become as crucial to the world economy as the proper governance of countries”. The “father” of corporate governance Cadbury defines corporate governance as the system by which companies are directed and controlled. Research has shown that good corporate governance can:
   •Improve standards in business
   •Encourage foreign investment
   •Lead to improved performance by companies

In many countries the attention on global governance surged at the time of the international financial crisis in 1997. Between 1996- 1999, Jamaica experienced a colossal downfall of the Financial Sector which raised concerns of reporting relationships and accountability of management and Directors to stakeholders.

With the primary purpose being to increase awareness of effective corporate governance in both public and private sector organisations; and to establish best business practice corporate governance guidelines for Jamaica, the Private Sector Organisation of Jamaica (PSOJ) established a Corporate Governance committee endeavoured to educate and inform itself on governance issues given its increased relevance with the demise of several local and international conglomerates. The committee comprises corporate leaders, personnel from financial regulatory bodies, accounting professionals, members of the legal fraternity, and academia which afford the committee the expertise to address all aspects of corporate governance with confidence and efficiency.


OBJECTIVES

The overall mission of the committee is to become the key influencer in the delivery and adoption of corporate governance best business practices by providing access to knowledge and learning resources for our members and leaders of business enterprises so they can effectively compete in the global market.

The strategic objectives are:
To develop and establish corporate governance guidelines that will facilitate implementation of best practices.
   • To conduct director training programmes
   • To promote the awareness of corporate governance principles and the      impact that well implemented principles can have on investor confidence.
   • To provide continuing public education and awareness of Corporate      Governance best practices
   • To make corporate governance knowledge resources accessible to relevant      stakeholder groups
   • To collaborate on a continuing basis with other associations and agencies      locally and regionally on corporate governance issues.
   • To influence and comment upon any corporate governance policy issues      and assess the impact upon the business environment.


PSOJ governance code compliance voluntary
published: Sunday | December 17, 2006


Christopher Bovell, Guest Writer

January 1, 2007 is an important date for all companies listed on the Jamaica Stock Exchange, and for non-listed companies engaged in the provision of financial services. The Private Sector Organisation of Jamaica (PSOJ) Corporate Governance Code, which was launched on November 9, becomes effective for all such companies ,whose annual reporting periods commence on or after January 1.The PSOJ is proposing that all such companies adopt and implement part one of the code - 'Principles of Good Governance'.
.read more>>

 

 
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