The Importance of Training
Companies today, in an increasingly complex operating environment, face the challenge of keeping abreast with regulations, expectations on corporate governance matters while striving to thrive in a sustainable manner. The demands of stakeholders necessitate the need for companies and their boards to keep developing and enhancing their capabilities and knowledge.
Directors
Directors are expected to devote sufficient time to update their knowledge and enhance their skills through appropriate continuing education programs. Their imperative participation in board deliberation require directors to commit in keeping themselves updated on the latest changes in market environment, law and regulatory provisions as well as observances in corporate governance principles and standards.
Bursa Malaysia Securities Berhad’s Listing Requirements as well as the Malaysian Code on Corporate Governance advocates continuous training for directors in listed companies to enable them to effectively discharge their duties and responsibilities. The nominating committee is to annually determine the training needs of their directors and to make an annual disclosure of the type and training matter attended by the directors in the company’s annual report.
Management and Employees
Management and employees are expected to also continually grow in their knowledge and skills as they support and under gird the progress of their company. Plus education and briefing on the latest changes to legislation or regulations governing the operation of their company are value-added benefits of working for their employers.