The Essentials to Directorship Programme got underway in Honiara yesterday Monday 30th July 2018 with day one focusing on governance essentials.

The four-day programme is delivered by the Solomon Islands Chamber of Commerce and Industry (SICCI) in partnership with the Institute of Directors, NZ (IODNZ) aimed at corporate discipline.

The programme is being held from 30th July to 2nd August at the Heritage Hotel.

SICCI Chair, Jay Bartlett acknowledged the importance of the directorship programme.

“Governance plays an essential role in defining leadership and management practices that ensure long-term success.

“A high-performing board can make all the difference when it comes to long-term corporate success - and implementing best corporate governance practices is a key board responsibility,” he said.

Mr Bartlett said such training can no longer be considered for big companies and organizations only and insisted that providing executive education and relevant board of directors training programs, must be integrated in all companies, churches, civil society and government agencies to increase performance.

IODNZ are sending three facilitators, Murray Strong, Denise Bovaird and Nick Dangerfield, all of whom are well qualified to deliver the programme.

The programme offers a comprehensive introduction to international best practice in corporate governance, strategy, finance, risk and assessing performance over the course of four days.

There will also be a session on Solomon Islands company and insolvency law and related legislation delivered by a Solomon Islands corporate lawyer, Rodney Kingmele.

Day one focused on essentials of governance, with an overview of governance, an effective governance culture, holding to account, and effective compliance.

Participants from day one benefited from understanding the key four pillars of governance best practice:

Pillar one: ‘Determine Purpose’ explores the important role of the board in developing an organisation’s purpose, goals and strategy. The session also highlights that boards must take ownership of the organization’s strategic direction.

Pillar two: ‘An effective governance culture’ requires the board to lead through high standards of ethical behaviour, commitment, candour and integrity. This culture is characterised by effective relationships between directors and with management, shareholders and stakeholders.

Pillar three: ‘Holding to account’ requires the board to hold management to account through informed, astute, effective and independent oversight of performance and conformance matters.

Pillar four: ‘Effective compliance’ requires that the board ensures the entity is, and remains, solvent. It ensures the probity of financial reports and processes, and a high standard of compliance with regulatory environment.

Day two, which starts today Tuesday 31st July, will introduce participants to strategic planning and the role of the board with afternoon sessions on tools and techniques of evaluating strategy and risk concepts.

Day three continues with sessions on risk governance, risk concepts and risk management process from a director’s perspective.

The programme wraps up on Thursday 2nd August focussing on finance with sessions on basic terms and principles, obligations around external reporting, financial analysis tools to interpret the organization and assessing initiatives to build value.

This course is aimed at private sector executive and non-executive directors, senior executives reporting to boards, and owners of private or family companies.

Participants will receive certificates at the end of each day during the duration of the programme.

This is the first time for a programme of this nature to be hosted in the Solomon Islands, and it is a milestone event which SICCI will continue to host next year and into the future.

Twenty-five participants ranging from Directors, Chief Executive Officers (CEOs) and General Managers with companies from construction, tourism, agribusiness, industrial goods, infrastructure, fisheries, utilities, and telecommunications industries are taking part in the programme.