The Securities Exchange Commission of Pakistan (SECP) conducted an awareness session on the revised Code of Corporate Governance at the Institute of Chartered Accountants of Pakistan (ICAP) Karachi recently. The session comprised of presentations and panel discussion by the Commissioner SECP, President ICAP, Legal Director and Company Secretary Unilever Pakistan, Deputy Director Strategy, Development and External Relations Department SECP and Session chairman ICAP former president Ebrahim Yacoob Sidat.
SECP Commissioner Asif Arif graced the session as the Chief Guest he spoke on the importance of implementing the code in true letter and spirit.
He highlighted that the process was an evolutionary one and the SECP encourages the stakeholders to come forward with their comments and issues which would ensure a better governance system, ICAP President Ahmed Saeed thanked SECP for conducting the session and highlighted that the code of corporate governance in Pakistan was the brain child of ICAP.
He also spoke on the relationship of SECP and ICAP citing it to be vital promoting good corporate governance in the country.
CPD Chairman and former president Abdul Rahim Suriya in his remarks spoke of the hurdle created for CAs by putting condition of five-year experience of handling financial or corporate affairs of listed company or bank or financial institution .He said that ICAP had approached SECP for exempting this experience condition for CAs. He also pointed out that corporate reporting should be included in the Code.
