Public Bodies Corporate Governance Awards Dec 11

Public Bodies Corporate Governance Awards Dec 11

Friday, December 06, 2019

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The Private Sector Organisation of Jamaica (PSOJ) and the Ministry of Finance and the Public Service have again partnered to host the third staging of the PSOJ Public Bodies Corporate Governance Awards to be held on December 11, 2019 at Jamaica Pegasus hotel in New Kingston, starting at 8:00 am.

The awards were created to foster a culture of adherence and awareness of the principles of good governance and to further incorporate improvements in the standard of corporate governance disclosure.

They also solidify the PSOJ's commitment to a better Jamaica through the continued development of good corporate governance practices for private and public sector bodies — a critical component for the effective development of Jamaica.

The awards competition is open to all public bodies, including statutory bodies, regulatory bodies, commissions and government-owned companies. Public bodies will be evaluated for the fiscal year 2018 to 2019.

Chair of the PSOJ Corporate Governance Committee Greta Bogues said that “the PSOJ remains steadfast in its view that true sustainable development can only be built on a foundation of good governance across all sectors — public and private. We are pleased to continue this positive partnership with the Ministry of Finance to recognise those public bodies that adhere to good governance practices”.

She said that public/private partnership is particularly important at this time, especially given the recent pronouncement by Finance Minister Nigel Clarke to introduce regulations on the nomination and appointment of directors for public bodies which should bolster the governance framework for these entities.

Awards will be issued in the four traditional categories:

Board Composition, Function & Structure;

Corporate Governance Policies and Procedures;

Compliance & Disclosure of Information;

Risk Measurement & Management & Internal Controls.

Special awards will be given for Best Annual Report and Best Website.

For the 2019 staging, another award category has been added: The PSOJ President's Award for the Most Improved Public Body.

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