ZET - JamaicaGazette.com
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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.

...
June 12, 2021


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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

...
June 12, 2021


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remuneration packages.

 Internal controls and risk management

 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.

G. Award Ceremony  The Awards Ceremony should be attended by all applicants and other guests and will be

held in February 2021.

 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 Bodies Corporate Governance Awards 2020 should be directed to:

Miss Greta Bogues

Chairman, PSOJ Corporate Governance Committee

The Private Sector Organisation of Jamaica

39 Hope Road, Kingston 10.

Phone: 876-927-6238

Email : 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

Email: cheryl.james@mof.gov.jm

...
June 12, 2021


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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.

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

and other guests and will be held in February 2021.

 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 Bodies Corporate Governance Awards 2020 should be directed to:

Miss Greta Bogues

Chairman, PSOJ Corporate Governance Committee

The Private Sector Organisation of Jamaica

39 Hope Road, Kingston 10.

Phone: 876-927-6238

Email : 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

Email: 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.

...
June 12, 2021


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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 the week commencing the

9 th

of November 2020. Questionnaires must be completed and

returned to the PSOJ by Friday 18 th

, December 2020 at 4:00p.m.

together with two (2) copies of the annual report for the financial

year ending March 31 st , 2020. 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:

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 starting

Monday 18 th

, January 2021 to determine the final winners. The

interviews will assist in clarifying areas of ambiguity and

substantiate documents submitted. At least one(1) Officer who

signed the submitted application form must also attend the

interview. The weighting of the final score will be then allocated

as: Application (40%), Interview (25%), Annual Report (20%)

and Website (15%).

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.

...
June 12, 2021


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