Regulators around the region have taken off the gloves when it comes to dealing with corporate governance problems, according to Navin Pasricha, Chairman of consulting firm Columbus Circle Governance.
Malaysia (Press Release) May 13, 2008 --
Regulators around the region have taken off the gloves when it comes to dealing with corporate governance problems, according to Navin Pasricha, Chairman of consulting firm Columbus Circle Governance. Pasricha was speaking at a briefing about the forthcoming 4th Asia Pacific Audit & Governance Summit (APAGS).
Pasricha said, “There is a big breakthrough in the actions of regulators when policing corporate governance. In the past, limited policing and action were barriers to getting real corporate governance improvement. Actions such as the hefty fines on Transmile directors shocked many audit committee members and auditors into paying attention.”
Pasricha went on to say that this year’s Summit, which will be held on 17&18 June 2008, will focus on making sure that the momentum in improving corporate governance is kept up.
“Regulators such as the Securities Commission have plugged the gaps in corporate governance codes and there has been stern action against individual directors involved in governance scandals. Now it is up to governance and audit practitioners to make sure that the new energy in the area is focused in the right direction. It is one thing for the Corporate Governance Code to have been revised, it is quite another to actually get it implemented effectively.”
With industry heavyweights such as the Auditor General of Malaysia, the CEO of Bursa Malaysia, the CEO of the Indian Institute of Directors, the Chief Auditors of Telekom Malaysia and Astra Indonesia, the Director of Strategy from the Thailand Government Pension Fund and the President of the Philippines Institute of Internal Auditors making up the speakers panel, the Summit promises to be a lively no-holds barred forum.
Last year, there were participants from some 15 countries. This year 250 top level delegates are expected to attend the Summit which is being supported by Bursa Malaysia, the Minority Shareholders Watchdog Group and ISACA amongst other organisations.
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Media Contact:
Seow Mei Ling, Columbus Circle Governance Sdn Bhd Tel: +603 2718 9688; Fax: +603 2718 9788; meiling@cct-global.com
Columbus Circle Governance Sdn Bhd is a professional firm offering services and advice in the areas of corporate governance, risk management and internal audit, investor relations, financial communications and issues management.
Pasricha said, “There is a big breakthrough in the actions of regulators when policing corporate governance. In the past, limited policing and action were barriers to getting real corporate governance improvement. Actions such as the hefty fines on Transmile directors shocked many audit committee members and auditors into paying attention.”
Pasricha went on to say that this year’s Summit, which will be held on 17&18 June 2008, will focus on making sure that the momentum in improving corporate governance is kept up.
“Regulators such as the Securities Commission have plugged the gaps in corporate governance codes and there has been stern action against individual directors involved in governance scandals. Now it is up to governance and audit practitioners to make sure that the new energy in the area is focused in the right direction. It is one thing for the Corporate Governance Code to have been revised, it is quite another to actually get it implemented effectively.”
With industry heavyweights such as the Auditor General of Malaysia, the CEO of Bursa Malaysia, the CEO of the Indian Institute of Directors, the Chief Auditors of Telekom Malaysia and Astra Indonesia, the Director of Strategy from the Thailand Government Pension Fund and the President of the Philippines Institute of Internal Auditors making up the speakers panel, the Summit promises to be a lively no-holds barred forum.
Last year, there were participants from some 15 countries. This year 250 top level delegates are expected to attend the Summit which is being supported by Bursa Malaysia, the Minority Shareholders Watchdog Group and ISACA amongst other organisations.
-------------------------------------------
Media Contact:
Seow Mei Ling, Columbus Circle Governance Sdn Bhd Tel: +603 2718 9688; Fax: +603 2718 9788; meiling@cct-global.com
Columbus Circle Governance Sdn Bhd is a professional firm offering services and advice in the areas of corporate governance, risk management and internal audit, investor relations, financial communications and issues management.
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