The Mauritius Institute of Directors (MIoD) in collaboration with the Financial Reporting Council (FRC), organized a breakfast forum and roundtable discussion on “Improving the Quality of Corporate Reporting” on October 28, addressing the issue of a reporting system that provides consistent, reliable and adaptable information.
PHOTO (MIOD) – Danny Balluck (Chairperson of the MIoD and moderator of the panel discussion), Prabha Chinien (Registrar of Companies), Pierre Dinan (Economic Consultant) and Dr. Satyabhooshun Gupt Domah (Chairman of FRC)
This joint collaborative event brought together corporate report preparers, auditors, and regulators to exchange ideas, views, and opinions on the needs for improving the quality of corporate reporting, with the following panelists: ▪ Dr. Satyabhooshun Gupt Domah, Chairman of the Financial Reporting Council
▪ Tim Taylor, President of Scott & Co. Ltd
▪ Pierre Dinan, Economic Advisor
▪ Prabha Chinien, Registrar of Companies
▪ Danny Balluck, President of MIoD and Moderator Focused on the factors of value creation, sustainability and governance, the discussion emphasized the role of each stakeholder in ensuring that reliable and trustworthy corporate reporting is made available to market users.” Our partnership with the Financial Reporting Council demonstrates our support for improved corporate reporting, while providing a forum to learn and share with our stakeholders on this important topic. Indeed, high-quality corporate reporting is essential and contributes to financial stability, promotes good corporate governance and strengthens the business community. As companies and investors evolve rapidly in a fast-changing world, corporate reporting must change to reflect these dynamics. Companies are already improving their corporate reporting in practice and this demonstrates that the momentum for change toward better communication and accountability is building,” said Sheila Ujoodha, executive director of MIoD. Viswajithsing Tuhobol, head of the Financial Reporting Council, added that “corporate reporting is a key way in which companies communicate with stakeholders as part of their accountability obligations. Companies need to communicate more clearly, openly and effectively with investors and other stakeholders about how they plan to develop sustainably. We are delighted to collaborate with the Mauritius Institute of Directors for this event where a range of ideas were shared to strengthen corporate governance and increase confidence in financial reporting. More than 90 participants attended the meeting, including representatives from the banking and financial sectors, regulators, auditors and other key stakeholders from the private and public sector business community.