| Lyna Mohamad |
CORPORATE governance refers to the policies and procedures on how an organisation is operated, regulated and controlled where these processes are designed to protect the diverse interests of the organisation’s stakeholder groups.
To prevent corporate scandals, fraud and potential civil and criminal liability, there is a need for effective corporate governance measures.
Corporate governance for fraud prevention describes the principles, functions and essential components of a corporate governance system where it addresses the controversy of CEO duality, how the recommended committees of any organisation should have on its board of directors and how to set the appropriate tone at the top.
In highlighting this, the Brunei Darussalam Institute of Certified Public Accountants (BICPA) yesterday hosted a preview on corporate governance at its office premises in the Regent Square, Kiulap and saw over 70 participants attending the seminar, comprising of representatives from Ministry of Industry and Primary Resources (MIPR), Authority for Info-communications Technology Industry of Brunei Darussalam (AITI), Royal Brunei Technical Services (RBTS), Tabung Amanah Islam Brunei (TAIB), Maybank as well as other private firms such as law, audit and construction firms and private companies.
On hand to facilitate the seminar was a consultant cum trainer whose field of expertise is in internal auditing, fraud prevention and investigation, Sanjeev Gathani. The speaker has more than 10 years experience in this field and has worked for several blue chip companies in the Asia-Pacific region.
The speaker is currently performing corporate governance reviews for a Swedish multi-national company where he has been their consultant for the past three years. He has travelled across the Asia-Pacific region and performed corporate governance reviews for various multi-national companies such as Crocs Asia Pte Ltd, Sime Singapore Ltd and National Semiconductor Sdn Bhd.
Gathani, who holds also the designate of Advanced Toastmaster-Silver from Toastmaster International, has also had working stints with professional firms such as Pricewaterhouse Coopers and BDO Advisory Sdn Bhd, Malaysia and is currently the appointed secretary for the Associated of Certified Fraud Examiners-Singapore Chapter and is also a professional member of the Institute of Internal Auditors, Malaysia.
His presentation at yesterday’s seminar covered various areas on corporate governance such as definition of corporate governance, reasons for growing demand for corporate governance, corporate governance of corporation as well as objectives, importance, principles, pillars and elements of corporate governance.
The half-day event yesterday serves to provide an insight to participants on corporate governance, focusing on why it is important to practice good governance in an organisation.