ICMA Pakistan is officially approved by SECP to conduct Directors’ Training Program (DTP). Since June 2012,
ICMA Pakistan has so far conducted several DTP programs in different cities and awarded certificates to over
hundred Board of Directors, in addition to Chief Financial Officers, Chief Internal Auditors, and Companies
Secretaries of Listed Companies. Under the Code of Corporate Governance, 2012, there is mandatory requirement
for the board of Directors of listed companies to get certification under Directors’ Training Program (DTP)
offered by the SECP approved Institutions. Through an amendment made by SECP in the Pakistan Stock Exchange’s
(PSX) Rule-Book, pertaining to the Code of Corporate Governance, it has been made mandatory for all the listed
companies to ensure that by June 30, 2018, at least half of the Directors on the Board have obtained certification.
In a major break-through for gender diversity in corporate boards in Pakistan, the SECP has required listed companies
to have at least one woman director within three years. This change is being implemented through the revised Code of
Corporate Governance under the new Companies Act 2017, which specifies that public interest companies shall have such
representation of directors as specified by the SECP. As a result, the proportion of women directors on listed companies,
which are a subset of public interest companies, is expected to jump from 6.4 percent to at least 14.3 percent.
In the course of this program you will learn the best practices of corporate boards, how to leverage
your skills to effectively lead, assemble and analyze the right level of information, rise to the challenges
of changing times and effectively align the interests of individuals, organizations and society.
Shareholder Activism :
In this session, you will examine the recent increase in shareholder activism and the controversies surrounding it.
This session will provide a historical examination of activism and review whether activists have a short- or long-run
orientation in their investment.
Board Oversight and Spotting the Warning Signs of Management Failure :
Boards of directors are charged with oversight of companies, and a key component of that is risk assessment — which has become particularly vital in recent years. While there are many aspects of risk that are important, the one set of factors that business overseers tend not evaluate carefully is the strategy, leadership, and process attributes of companies.
Director Liability Risk :
The goals of this session are to reconcile the divergence between perceptions of personal out-of-pocket liability risk for outside directors and the reality of that risk. We will explain how directors can ensure that their companies’ directors and officers liability insurance policies and indemnification arrangements provide appropriate protection, and describe the board’s monitoring roles.
Social Studies: Why Social Media Matters for Boards :
Social media has fundamentally changed the ways in which companies and customers interact, creating both new opportunities and new risks for businesses. This session develops a framework for thinking about social media from the perspective of a board member.
CEO Succession Planning :
Surveys of corporate boards indicate that only about one-third of all boards have developed a detailed CEO succession process, even though directors uniformly acknowledge that managing CEO succession is a fundamental duty.
Recent Developments in Financial Reporting :
This session will cover impending and proposed changes to financial reporting — for example, in the areas of revenue recognition, accounting for leases, and accounting for financial instruments.