Forum discussion on corporate governance

In a bid to provide a forum for exchange and to discuss possible strategies to strengthen stakeholder action corporate governance, ethics and values, while drawing an analogy with the Indian experience Transparency International Sri Lanka (TISL) is organising a Round Table Discussion.

A Partner at PricewaterhouseCoopers, Sujeewa Mudalige, will present a comparative analysis of recent Corporate Collapses in Sri Lanka and India.

This will be followed by the forum discussion, moderated by Dr. Mario Gomez, a human rights activist, academic, and peace practitioner.

The event will be on February, 26, from 4.00 pm to 6.30 pm at BMICH, Committee Room.

A new emphasis on corporate governance, ethics and values have been prompted by the collapses and scandals that have rocked the corporate world, both locally and internationally.

Sri Lanka’s recent Supreme Court Judgments highlight the need for enhanced collective strategic action by multi stakeholders groups.

Further, the recently introduced Companies Act and Central Bank interventions, have made it less likely that directors and officers can turn a blind eye to corrupt practices and more likely that they will have to put in place strengthened risk management processes and compliant systems.

Transparency International (TI), the global coalition fighting corruption, says “The changing corporate climate with the global financial crisis and both local and international corporate collapses has led to an escalated need for implementation of collective initiatives for business integrity” and that “Sri Lanka’s Corporate collapses and scams lay special significance in that the impact is borne by the public, whose awareness is limited, in their role as external investors”.