Focus on building pool of qualified local directors

The National Business

By PETER ESILA
THE Papua New Guinea Institute of Directors (PNGID) is determined to play its part in building a pool of qualified directors in the board of companies, president Anthony Yauieb says.
Yauieb said PNGID was working on a strategy to address that for this year, part of it includes partnering the University of PNG to introduce cooperate governance courses and publishing a handbook for directors.
“We’ll be looking at realising this year a handbook of directors roles and responsibilities,” he said.
“We will also be working towards producing and releasing a directors’ competency framework, we feel that this is important to understand what competency and attributes are important in the role of a director.
“This will then set the basis for developing a curriculum for undertaking case studies and the curriculum will allow us to undertake training programmes, particularly in the areas of continued professional development.
“Eventually, we hope to introduce certified training programmes with partnership with the Bank of PNG and the University of PNG to introduce a diploma in corporate governance, we look to launch it this year.
“PNGID is also seeking to become a statutory body and initially work as has commenced on that and we hope to take on that this year. We will be releasing later a discussion paper inviting members to begin the process of consultation with ministers and with government.”
Yauieb told a PNGID-hosted gathering in Port Moresby last week that the strategy would focus on:

  •  Growth: Retention, expansion, diversification of membership.
    This includes promoting culture of inclusion, launching targeted campaigns to non-members with a strengthened sector focus on government, financial services sectors and micro-small-medium enterprises, equipping and encouraging the growth and development of emerging directors and female directors and creating a new associate membership category for younger generation;
  •  standards: High professional standards and integrity.
    This includes reviewing and updating if necessary PNGID’s code of conduct, providing guidance on the governance of public enterprises, providing guidance for important sub-national public administration bodies such as the district development authorities;
  •  deliver member value: Increase the value proposition of membership.
    This includes completing member database, dissemination of information including maintaining an updated informative website, expanding the portfolio of training services by collaborative efforts, evaluate current products and services against member demands;
  •  engagement: Connect to advance corporate governance.
    This includes enhancing networking and engagement opportunities for our profession, develop mutual beneficial and sustainable relationships and strengthening inter-professional collaboration, develop a communication strategy, awards, prizes and individual recognition and promotion of the contributions the profession make; and,
  •  Influence: Shape the national agenda on corporate governance.
    This includes representing directors and their interests with the public, regulators, media and other stakeholders, regular and strategic communication with regulators, government and industries bodies, demonstrate leadership in ethical thinking and commenting on issues that directly relate to the director’s profession.