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B. Corporate Governance Policies Procedures & Practices – 30%

9. Does your Public Body have a board approved Board Charter Please attach a copy of your Board Approved Charter.

a. If yes, is there a review of the charter on a periodic basis

i. If yes, please give detail in the table below:

DONE BY FREQUENCY OF REVIEW

APPROVED BY BOARD

Committee, Name: Other:

ii. If no, is there any work in progress to formulate a charter

10. Does your Public Body’s Board approved Charter comply with the principles of the PBCGF for Public Bodies

…………………………………………………………………………………………………………………………………………

13. What information is provided to the Board prior to Board meetings Please check all that apply.

i. Agenda ii. Minutes of previous meeting(s) iii. Management reports iv. Financial statements v. Items for Decision vi. Proposed Resolutions vii. Others, please specify …………………………………………………………………….…………………………

14. How far in advance of Board meetings is this information consistently circulated Please check one:

i. More than a week ii. 5 working days iii. At the meeting v. Other, please specify ……….…………………………………………………….…………………………………

15. Is the performance of the Chief Executive Officer appraised at least annually

i. By whom …………..…………………………………………………………………………………….……………. ii. Are there set performance standards Who sets them............................ iii. Who reviews these standards and how often ……………………………………………………………

………………...........................………………………………………………………………..…………………

YES/NO

YES/NO

YES/NO

YES/NO

11. Corporate Social Responsibility: a.Does your Public Body have a board approved Corporate Social Responsibility (CSR) policy YES/NO Please attach a copy of the CSR Policy.

12. Which Board members and/or senior executives are primarily charged with implementation and enforcement of corporate governance best practices, and why

YES/NO

YES/NO YES/NO

…………………………………………………………………………………………………………………………………………

YES/NO

iv. 3 working days

…………………………………………………………………………………………………………………………………………

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C. Compliance and Disclosure of Information – 20% 18. Has the Public Body complied with the following requirements: -

a. Submission of the following within the specified timeline:

i. Corporate Plan ii. Monthly Reports iii. Quarterly Reports iv. Annual Report

b. Kindly state number of audit committee meetings for the period. ….…. c. At least 1 member of the Audit Committee is a qualified Accountant… d. Payment of statutory obligations are submitted on time……

19. How is Public Body information revealed to stakeholders Please check all that apply.

i. Updated Website iii. Quarterly Reports

ii. Press Briefings iv. Annual Reports vi. Otherv.

If Other, please specify: …………………………………………………………………………………………

20. Are conflict of interest and/or related party transactions disclosed at board meetings and where

................................................................................................................................................

21. Does your Annual Report meet the disclosure requirement of the First Schedule of the PBMA Act,

22.

23.

24. Does your Public Body disclose the compensation of its Directors and Senior Managers in the

appropriate disclosed by note in the Annual Report Briefly discuss. YES/NO

YES/NO YES/NO YES/NO

YES/NO YES/NO

YES/NO

YES/NO

Annual Report YES/NO 3

................................................................................................................................................

YES/NO

Quarterly Financial Statements

................................................................................................................................................

as well as, CGFPB Principle 17. 1a, b, c & 4

Does your Public Body have a Board approved Code of Ethics/Conduct Please attach a copy of the Code of Ethics.

Does your Public Body have a board approved Whistle Blowing Policy Please attach a copy of the Whistle Blowing Policy.

YES/NO

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T he Private Sector Organisation of Jamaica (PSOJ) in collaboration with the Ministry of Finance and the Public Service (MFPS) has established the annual Public Sector Corporate Governance Awards for public bodies.

These awards will be applicable to those Public Bodies which are governed by the Public Bodies Management and Accountability Act (PBMAA) and the Corporate Governance Framework for Public Bodies (CGF).

Award Objectives  To promote awareness and adherence to the principles of

good corporate governance  To encourage improvements in the standard of corporate

governance disclosure  To recognize Public Bodies that have established high

standards of corporate governance disclosures and practices

A. Eligibility for Entry All Public Bodies governed by the (PBMAA), namely:  Statutory Bodies or Authorities (with body corporate status)  Government Owned Companies

B. Award Evaluation The Event will cover three (3) special awards and four (4) category awards; the latter will determine the overall winner. A questionnaire has been developed in order to elicit responses in relation to the categories. The completed questionnaire will be evaluated by the judging panel using the evaluation scheme which is based on the assignment of 100 points, as allocated among the 4 categories as noted below:

NOTES

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 Corporate social responsibility  Conflict of interest and connected transactions and

relationships  Other disclosures relating to, e.g., board committees, internal

audit, shareholder communications and investor relations  Ease of identifying compliance information

The judges will also take into account other publicly- available information that reflects on the standard of particular Public Bodies corporate governance. The decision of the judges will be final. In the event that the judges are unable to find entries of sufficient merit, they may, at their discretion, withhold some awards.

H. Award Ceremony  The Awards Ceremony should be attended by all applicants

and other guests and will be held in December 2019.  Media representatives will be invited to cover the Awards

Ceremony as a part of the public relations arrangement.

Notification: Enquiries in relation to the Public-Sector Corporate Governance Awards 2019 should be directed to:

Miss Greta Bogues, Chairman, PSOJ Corporate Governance Committee Private Sector Organisation of Jamaica (PSOJ) 39 Hope Road, Kingston 10. Phone : 876-927-6238 E mail : cherylb@psoj.org and/or gretab@cwjamaica.com OR Mrs Cheryl Sylvester-James Senior Director, Ministry of Finance and the Public Service 30 National Heroes Circle, Kingston 4 Phone: 876- 932-5056 E-mail: cheryl.james@mof.gov.jm

Categories Scores

Board composition, functions & structure 25% Corporate governance policies, procedures & Practices

30%

Compliance and disclosure of information 20% Risk Measurement and Internal Controls 25%

TOTAL 100%

C. Award Categories BEST OVERALL CORPORATE GOVERNANCE

AWARD SPECIAL AWARDS as noted hereunder:

- Best Annual Report Award - Best Website Award - Most Improved Public Body

Four (4) Dedicated Category Awards: 1. BOARD COMPOSITION, FUNCTIONS &

STRUCTURE This award aims to identify good corporate governance practices articulated in the CGF especially in relation to the separation of roles of the CEO and Board Chair, Board diversity, competency of Board members, establishment of Board Committees, and conduct of orientation and training of Board members as well as board evaluation.

2. CORPORATE GOVERNANCE POLICIES, PROCE-

DURES AND PRACTICES This award seeks to assess the extent to which specific recommended corporate governance policies, procedures and practices in relation to the operation of the Board have been implemented. These include Board Charter, Corporate Social Responsibility policy, appraisal of the CEO and availability of preparatory documents for board meetings.

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3. COMPLIANCE AND DISCLOSURE OF INFORMATION

This award will examine whether the Public Body has been compliant with the statutory requirements of the PBMAA, inclusive of the development of Corporate Plans, Annual Reports and the contents therein.

4. RISK MEASUREMENT AND INTERNAL CONTROLS This award will assess whether the Public Body has appropriate internal control policies and systems such as a Risk Management Policy and Internal Audit functions.

D. Entry Procedures Each Public Body will receive the relevant questionnaire (application form) for completion by 30th June, 2019. Questionnaires must be completed and returned to the PSOJ by Tuesday, 1st October, 2019, the latest, together with two (2) copies of the annual report for the financial year ending March 31st , 2018. NO ENTRY FEE IS REQURIED.

E. Review & Judging Procedures The awards review and judging panel will comprise representatives from the PSOJ Corporate Governance Committee, the MoFPS and other independent private sector leaders in the field of corporate governance.

For all categories, there will be two levels of review: 1. Quality Review 2. Compliance Review

I. Quality Review An assessment will be done on the quality and standard of presentation and disclosure of corporate governance information in annual reports. Where relevant, other publicly available information may also be taken into account, for example the Public Body website. The emphasis will be on voluntary disclosures that exceed the minimum statutory and regulatory requirements.

II. Compliance Review

A check will be conducted on compliance with the mandatory corporate governance disclosure requirements under the PBMAA, CGF and the Companies Act where applicable.

After completion of the above review, the judging panel will shortlist the top five (5) candidates for interviews during November 2019 to determine the final winners. The interviews will assist in clarifying areas of ambiguity and substantiate documents submitted. The Officers who sign the submitted application form must also attend the interview. F. Judging Criteria The judging criteria for the main categories include the following:  Overall presentation  Promptness of reporting  Quality of disclosure in relation to the following information:  Corporate governance statement and practices  Board structure and functioning including board composition

and diversity  Remuneration policy and details of directors and senior

managements remuneration packages  Internal controls and risk management

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