The Public Sector Corporate Governance Awards is intended to promote awareness and adherence to the principles of good corporate governance, to encourage improvements in the standard of corporate governance disclosure and, importantly; to recognize Public Bodies that have established high standards of corporate governance disclosures and practices.
The Awards are scheduled to awarded in November 2017 and 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). The entities will be assessed based on their performance in the FY 2016/17.
It is expected that, that highlighting Public Bodies by way of a recognition award, the entities will be incentivized and as such; will promote and maintain a higher level of effective governance which will redound to increasing Public Bodies performance and enhance public trust.
PSOJ Public Sector Corporate Governance Awards will cover four (4) categories from which an overall winner will be selected. The categories include
- Board Composition, Functions and Structure
- Corporate Governance Policies Procedures and Practices
- Compliance and Disclosure of Information
- Risk Measurement and Internal Controls