AFDP Workshop on Strengthening Corporate Governance within Financial Institutions Coming in May
The AFDP workshop on Strengthening Corporate Governance within Financial Institutions, co-sponsored by the APEC Finance and Development Program(AFDP), ABAC (APEC Business Advisory Council), PECC (Pacific Economic Cooperation Council) and CNCPEC(China National Committee For Pacific Economic Cooperation), will be held in Shanghai National Accounting Institute on May 19-22, 2004.
There is emerging consensus among analysts, practitioners and policymakers that improving corporate governance of companies in the Asia Pacific region is critical to generating sustainable global growth. Strengthened corporate governance in the banking and insurance sectors - given their importance in any economy - is particularly important in fostering financial stability and improving living standards. AFDP and the World Bank initiated a workshop on Strengthening Corporate Governance and Financial Intermediary, in August 2002 at the Shanghai National Accounting Institute. It was successful in inspiring a lively exchange of views and in contributing to policy thinking in the region on strengthening corporate governance in banking sectors.
The Workshop seeks to present an up-to-date overview of the main trends in the development of corporate governance within financial institutions in APEC economies. It is expected to address the latest issues concerning corporate governance in APEC economies; to promote efficiency of governmental regulation; to improve the governance of banks, insurance companies and other financial institutions; and to promote sustainable economic growth and social stability.
There will be two components to the workshop. The first will deal with the banking sector and will focus on developments in the OECD on principles of governance relating to the sector and on relevant regulatory issues as they impact on practices in banks. It will also consider corporate ethics in banking institutions and governance matters in regulatory agencies. The insurance component will have a related but slightly different focus. In particular, it will focus on challenges for the Asian insurance industry arising from the development of international accounting standards.
The workshop is expected to involve the participation of senior officials and policy makers from leading banks and insurance companies, major accounting firms, multilateral financial institution, banking and insurance specialists, regulatory agencies and academics.
