Palmisano: Role of boards crucial
3 October, 2018, 11:00 am
THERE really is a commitment to strengthening corporate governance in Fiji.
These sentiments were echoed by the Head of International for the Australian Institute of Company Directors Edward Palmisano yesterday.
Mr Palmisano is conducting a three-day Fiji Directors Course at Grand Pacific Hotel in Suva.
“There really is a commitment to strengthening corporate governance in Fiji and a recognition that good governance can really improve the performance of an organisation, it can lead to better decisions, it can help maximise the financial performance of the organisation and of course it increases transparency and accountability and that helps manage relationships with key stakeholders,” Mr Palmisano said.
Mr Palmisano said the course took people through directed duties, driving financial performance in their organisation and the legal strategic and risk issues that a director would face on a board.
“This is the second day (yesterday) of the course. Yesterday (Monday) I touched on the roles of a director and their duties and responsibilities and making sure that the board is composed of the right directors.”
Mr Palmisano said the course attracted 25 participants who are very senior board directors and people who report to the board and aspiring directors.
“They are responding very positively to the course and are engaging with materials and having good discussions with each other to become a more effective director.”
Mr Palmisano said Fiji had the same challenges that boardrooms around the world were facing which were things like having the right culture on board, having diversity on the board not only having a gender diversity but also diversity of thought and diversity of experience.
“Participants also looked at conflicts of interest and the board’s role in strategy, risk and financial performance.”