By Toneo Tonderai Rutsito
The IT Governance & Cyber Security Institute (ITGCSI) in conjunction with the Zimbabwe Institute of Management will be holding a 4 day symposium to explore the challenges encountered by Zimbabwean organizations and other developing countries in the region in the process of adopting the corporate governance ideals.
Speaking to the Executive Director of IT Governance & Cyber Security Institute, Dr. Richard G. Young he said “The Symposium will demystify the Zimbabwean Corporate Governance Code which provides the structure through which corporations set and pursue their objectives, while reflecting the context of the social, regulatory and market environment.”
I have previously highlighted the need to implement an IT structure within the corporate world that safeguards both the organisation and the employees as a guiding principle standard to help stir a clear course.
Due to numerous corporate scandals of various forms which have maintained public and political interest in the regulation of corporate governance there has been renewed interest in the corporate governance practices of modern corporations, particularly in relation to accountability, since the high-profile collapses of a number of global large corporations.
Dr Richard Young said the Symposium will demystify the Zimbabwean Corporate Governance Code , how it will deal with various issues as we map the way forward in this highly volatile digital age.
Amongst the targeted achievements, the symposium is expected to create a system of law and sound approaches by which corporations are directed and controlled.
They will be focus on the internal and external corporate structures with the intention of monitoring the actions of management and directors, the mitigation of risks which may stem from the misdeeds of corporate officers
The mechanism for monitoring the actions, policies and decisions of corporations, the alignment of interests among the stakeholders, the structure through which corporations set and pursue their objectives, while reflecting the context of the social, regulatory and market environment.
The topics will help in understanding rights and equitable treatment of shareholders, Interests of other stakeholders, Role and responsibilities of the board, Integrity and ethical behaviour, Disclosure and transparency amongst other topical issues that needs redress.
Amongst the speakers are Prof. Gabriel Kabanda with Zimbabwe Open University, Dr. Gilford Hapanyengwi head of University Of Zimbabwe Computer centre and president of The Computer society of Zimbabwe, Eve Gadzikwa (SAZ), Canaan Dube of Zim Leadership Forum, Edward Siwela of IoDZ.
The speakers have identified knowledge gaps in corporate governance that can assist board members and senior management during the adoption and implementation of the new Zimbabwean “Corporate Governance Code.”
Chief among the objectives of this Corporate Governance Symposium is assist organizations to continuously seek for ways to improve on their business process improvement, re-engineering, total quality management, strategic management, corporate citizenship, corporate social responsibility (CSR) and business ethics which have become Buzzwords in the contemporary business world.
The IT Governance & Cyber Security Institute (ITGCSI) promotes practical reforms in corporate governance, and is run by a board of Trustees headed by Prof. Gabriel Kabanda, Dr. Gilford Hapanyengwi, and Dr. Richard Young.
Dr Richard said, the Institute’s mission among others is to provide assistance on corporate & IT governance, and data security. It has three functions which are to broaden the dialogue on corporate governance; to exchange experience and good practices; to coordinate activities and identify, and fill gaps in provision of technical assistance.
The Institute also provides a convening venue for the leading players in governance in the Sub-Saharan Africa region. Its theme of partnership between the public and private sector is established through an Advisory Board, chaired by Dr. Richard Young, which is comprised of internationally-recognized business leaders serving in an individual capacity.
Also, their IT and Corporate Governance Executive Education Programs at ITGCSI is the first-of-its-kind in that it educates the people throughout the SADC region who, in turn, teach corporate governance or build related curricula through a highly interactive, peer-driven programs which includes certifications.
Different market and non-market economies take significantly different approaches to governance. The ultimate litmus test for ITGCSI programs is to understand these differences within the legal and regulatory frameworks, as well as the relationship between the private sector, government, and measurable differences in terms of governance structures.
The bigger part of the corporate world has either been reluctant or partially ignorant of the IT governance and its statutes leading to a porous system taking charge.
Stemming out rogue traits or systems and creating a properly governed corporate takes statutes to be implemented which no one is above law for sanity to prevail.
The 4 day Symposium will go live at Leopard Rock Hotel from the 24 of July 2013.