CSE forums on good corporate governance concludes | Sunday Observer

CSE forums on good corporate governance concludes

11 April, 2021
The panel discussion in progress.
The panel discussion in progress.

The two-part series of online forums themed ‘Beyond Basics: Excellence in Corporate Governance’ hosted by the Colombo Stock Exchange (CSE) concluded recently, offering representatives of listed companies an in-depth understanding on the importance of good corporate governance practices and how it would increase investor confidence through transparency and accountability. 

Over a 100 people including board members and senior management representatives of over 50 listed companies were present. Good governance is an essential cornerstone of a listed company. It encompasses the processes, practices and policies that a company relies on to make formal decisions and to manage the company. The concept has earned its place as an essential growth tool for organisations and will continue to extend in prominence with time.

The first session on March 3 focused on a comprehensive discussion on the salient governance aspects set out in the CSE listing rules (corporate disclosures and related party transactions), responsibilities of directors, board sub-committees and their working (audit, remuneration and nominations committees).

The second session, on March 18 further directed the conversation towards sharing corporate best practices on implementing internal standards of compliance and business conduct, managing conflict of interest, managing stakeholder relations and safeguards, the importance of maintaining a whistleblowing procedure and its implementation, and ESG performance reporting.

The topics ensured that globally accepted and implemented practices were discussed and listed companies were encouraged to look at these practices progressively to embrace governance as an enabler of growth and better business outcomes. The sessions were followed by a panel discussion which offered an opportunity for participants to engage in a discussion regarding practical implications distinctive to Sri Lankan corporate environment.

The CSE strives to engage listed entities through sessions such as these to provide a deeper understanding of the elements that combine to create effective corporate governance in a listed environment and provide leadership on issues related to Governance and Sustainability.

CSE has set governance standards among other broader continuous listing requirements, to set a robust foundation to ensure that companies commit towards operating with streamlined, transparent procedures and good governance, as better corporate citizens. 

“The interest in the event, among the leadership of listed companies indicates that governance is increasingly a key priority for corporates at a time where investors and stakeholders place greater emphasis on organisational governance of listed companies,”  a CSE spokesman said.

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