Corporate
Governance
Integrity of personnel and soundness of operating systems
are essential to the well-being of an organisation, especially
a statutory body. Our corporate governance system starts with
a Code of Conduct for all staff and extends to a comprehensive
process of checks and balances to ensure that we conduct our
work with credibility, dedication, fairness and transparency.
Rationale We
believe that corporate governance is a self-serving function.
Policies and procedures are in place to lay down best practice
controls and guidelines that enhance our viability as an organisation.
As a regulator of financial markets and indirectly, of listed
companies, we also can use corporate governance to set a good
example for the business community with which we interact.
Statement We
observe the four elements of corporate governance laid down
for public organisations in the guidelines of the Hong Kong
Institute of Chartered Public Accountants. Mechanisms are
in place to ensure the integrity of our personnel, maintain
a viable operational structure, manage risks and deploy independent
checks and controls. Going by a policy of transparency, we
further inform the public of our performance in corporate
governance through regular and established channels.
System Having
been refined over the years, our corporate governance system
seeks to ensure accountability without compromising independence.
It also allows us to apply the principles of fairness and
firmness with some degree of flexibility. Here are the areas
of focus in terms of our corporate governance:
- a comprehensive framework of controls and checks in the
form of a core management body, a supervisory board, a number
of committees and independent external overseers (see diagram)
to formulate and review policies;
- standards of conduct to ensure personnel integrity, ranging
from the Government appointment of a balanced number of
executive and non-executive directors for a fixed term to
a code of conduct for all staff;
- communication mechanisms, such as regular reporting channels,
to promote accountability and transparency; and
- risk management policies and procedures for both financial
and operational matters to maintain viability and efficiency.
For details on corporate governance, please click here.
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