[Report: Reform Priorities in Asia: Taking Corporate Governance to a Higher Level] – This report defines corporate governance reform priorities and makes recommendations that reflect the specific conditions and needs within Asia. Agreed by consensus, the report updates the Roundtable’s 2003 White Paper and includes an overview of corporate governance frameworks in 13 Asian economies.
Agreed in October, 2011, Priority #4 specifically mentionedtraining as being very important (something that Singapore heeded very nicely in its amendments to its Code of Corporate Governance this year):
Priority 4: Board performance needs to be improved by appropriate further training and board evaluations…..Efforts by private-sector institutes, organisations and associations to train directors should continue, focusing on how board members should discharge their duties. (ii) To improve board performance and clarify decision-making, it is becoming good practice to complement training by periodic, externally facilitated board evaluations. This adds credibility to what is an internal process, which should be dislosed to shareholders. Boards should put in place procedures that will regularise and professionalise the performance of board functions and clarify decision-making.
One might almost think they were also thinkingof BDTI, except that unfortunately theFSAand the TSEhave done nothingin furtherance of what was agreed by theOECD about training.
OECD-Reform Priorities in Asia-2011