A forensic audit at the East Port-of-Spain Company Limited (EPoS) has unearthed a scheme of unauthorised cheque payments to the value of approximately $16 million to a company affiliated with an...
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Corporate Governance Institute offers training
Months after its launch in October 2013 and the publication of the T&T Corporate Governance Code in November, the Caribbean Corporate Governance Institute (CCGI) has hosted their inaugural training programme. Board Dynamics and Decision Making was the first in what CCGI officials hope will be a series of courses designed to assist senior executives in making better decisions for their organisations.
According to training facilitator, Chris Pierce, CEO of Global Governance Services Limited, between 25-30 directors from a mix of sectors learnt what her termed the “secrets of successful companies.” Topics included, the powers and responsibilities of boards, choosing a strong chair of a board, the quality of the information that a board receives and the reporting of a board’s activity.
Pierce said it was a master class for experienced company directors. In July, the institute will be hosting certificate level training which will be divided into four modules—What is Corporate Governance? Improving Board Practices and Procedures, Strategy and Risk and Corporate Reporting. He also said the Institute plans to launch a diploma programme, which will focus on the leading change and the internal workings of boards:
“How do you deal with arguments of boards? How do you deal with a dominant chief executive? How do you deal with false information coming to the board? Conflicts of interests, we will be looking at that,” he said. Pierce said individuals who have been through the whole training programmes will be awarded chartered director status, an award which signifies that the executive “know, understand and are practicing” good directing.
This is expected to improve the quality of boards in T&T, with the spillover effect that organisations and the country at large will improve. Local partners of the Institute include the T&T Stock Exchange and the T&T Chamber of Commerce. The CCGI is a “not-for-profit organisation dedicated to advancing the principles of corporate governance across the Caribbean.”