Thrust on establishing audit committees in listed cos
Thursday, 6 December 2007
FE Report
Former adviser to the caretaker government and Chairman of Apex Adelchi Footwear Ltd Syed Manzur Elahi stressed the need for establishing audit committees and inducting independent directors in every listed company to pave the way for good governance in the country. He expressed the hope that if it was done a positive change would come in the corporate culture of the country. He also advised company secretaries to play their due role.
He was speaking as the session chairman at a workshop on "Audit Committee and Independent Director" organised by Institute of Chartered Secretaries and Managers of Bangladesh (ICSMB) under its Continuing Professional Development programme (CPD) in the city recently.
A large number of ICSMB members attended the event.
The keynote paper was presented by Mohd Sanaullah FCS, president of the International Federation of Company Secretaries (IFCS) and company secretary and general manager (corporate affairs) of Singer Bangladesh Limited.
Executive Director of the Securities and Exchange Commission (SEC) Shuvra Kanti Chowdhury and ICSMB Council Member and Managing Director of Nuvista Pharma Limited Akhter M Chowdhury FCS discussed the keynote paper.
The workshop was presided over by ICSMB President Itrat Husain FCS.
In the keynote paper, Mohd Sanaullah highlighted the role and importance of the audit committees in overseeing the financial activities and disclosure procedures of the companies. The appointment procedure and the role of independent directors and the global practice in this connection were also highlighted in the paper. A lively discussion on the issues presented in the paper was held.
Former adviser to the caretaker government and Chairman of Apex Adelchi Footwear Ltd Syed Manzur Elahi stressed the need for establishing audit committees and inducting independent directors in every listed company to pave the way for good governance in the country. He expressed the hope that if it was done a positive change would come in the corporate culture of the country. He also advised company secretaries to play their due role.
He was speaking as the session chairman at a workshop on "Audit Committee and Independent Director" organised by Institute of Chartered Secretaries and Managers of Bangladesh (ICSMB) under its Continuing Professional Development programme (CPD) in the city recently.
A large number of ICSMB members attended the event.
The keynote paper was presented by Mohd Sanaullah FCS, president of the International Federation of Company Secretaries (IFCS) and company secretary and general manager (corporate affairs) of Singer Bangladesh Limited.
Executive Director of the Securities and Exchange Commission (SEC) Shuvra Kanti Chowdhury and ICSMB Council Member and Managing Director of Nuvista Pharma Limited Akhter M Chowdhury FCS discussed the keynote paper.
The workshop was presided over by ICSMB President Itrat Husain FCS.
In the keynote paper, Mohd Sanaullah highlighted the role and importance of the audit committees in overseeing the financial activities and disclosure procedures of the companies. The appointment procedure and the role of independent directors and the global practice in this connection were also highlighted in the paper. A lively discussion on the issues presented in the paper was held.