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Posts Tagged ‘Governance’

Internet governance: Routing it right

The survival of the internet’s governing body has come at a price

PETER DENGATE THRUSH knows a lot about names. A scientist by training, he has much respect for Carl Linnaeus, the 18th-century classifier of plants and animals. But these days Mr Thrush is busy looking after a different taxonomy: internet addresses, or more precisely their suffixes such as “.com” or “.net”. He chairs the board of the Internet Corporation for Assigned Names and Numbers (ICANN), the closest thing the web has to a governing body. New addresses are more than names, he explains, they are creations.

ICANN is set to create many new such digital beasts. When the organisation meets for its triannual shindig between December 5th and 10th in Cartagena, Colombia, its board intends to finalise plans to introduce many more “top-level domains”, as these suffixes are called. This follows the worldwide introduction of internet addresses with non-roman characters earlier this year. If the new plans go ahead, ICANN can argue that it has accomplished its main mission: making the domain-name system (DNS) more competitive and international. For an organisation that seemed doomed from the day it was founded in 1998 because of squabbles over its legitimacy, that is quite a feat. …

PM admits governance problems


ISLAMABAD – Conceding the governance and corruption problems with his government like most of the developing states Prime Minister Syed Yousuf Raza Gilani said that they were introducing reforms in various sectors and steps were underway to address the hiccups like mal-governance and other hurdles coming in the way of democratic government.
Speaking at Pakistan Development Forum in Islamabad on Monday, Prime Minister Gilani said that Pakistan was confronted with terrorism and on top of it devastation by unprecedented floods had inflicted loss of billions of dollars to the national exchequer.
Premier Gilani said that his government was ready to take unpopular decisions to meet the long-term challenge of reconstruction of infrastructure in flood-hit areas and to help resettle the affected people in their homes.
He said flood reconstruction would require billions in investment, while the countryÂ’s institutions also need to be reformed.
“We need your long term, consistent support in helping us support our institutions, our systems, so together we can continue on a journey which would make Pakistan, and its people, realise their full potential,” Gilani said.
He said his government believed in leading the people through painful yet fundamental reforms.
“We are prepared to take political risks for providing the necessary leadership to our people. We have demonstrated our will to take unpopular decisions. However, our resolve to lead our people to a glorious tomorrow is unflinching,” the Prime Minister told the gathering of delegates from 30 countries and 264 representatives from donor countries.
Prime Minister Syed Yousuf Raza Gilani said Pakistan deeply appreciated the support and warmth of friendly countries and its bilateral and multilateral partners.
He said the extreme difficulties that the people of Pakistan, have faced over the last three years have “tested our resolve as a nation, our courage, our determination, our resilience.”
“We as a nation have proven our resolve, our courage and determination, our resilience.”
He said the destruction of lives and property, by the floods has been met through the benevolence of fellow Pakistanis, swift government action and timely international humanitarian support.”
Gilani acknowledged the services of the soldiers, government servants and NGOs for meeting the challenge of floods with devotion and diligence.
He, however, acknowledged the measures needed to meet the losses of billions of dollars and said, “We need to collect more revenues, require policy and tax administration reforms, promote growth and create employment opportunities.”
The Prime Minister said in an environment badly damaged by floods, and by frequent attacks by terrorists, the people must not lose hope.
“We want to give our people especially our youth, a message of hope,” Gilani said, but was critical of those who were projecting a completely negative image of Pakistan and called for a distinction between criticism of a government and criticism of the country.
“We are democrats and believe in freedom of speech. However, when such criticism envelops the nation then it is a cause of concern for all of us. All Pakistanis love Pakistan! We in government are also Pakistanis and we too love Pakistan.”
He elaborated and said, “Some choose to only look at our faults, and not at our achievements.”
Gilani said Pakistan has embarked on the way to help itself and pointed to the consensus on the 7th National Finance Commission Award and the 18th Amendment.
“We have committed ourselves to a timeline to reduce ministries at the federal level as enshrined in the 18th amendment. Ten ministries will be reduced shortly. The Council of Common Interests has been constituted and made fully functional,” Gilani said.
The Prime Minister said the government was now activating the public sector reform, required under the 18th Amendment.
He said his government was firmly committed to the economic reform agenda and change to improve economic governance in the country. He said the government was facing the challenge of raising domestic revenues and mentioned the measures that included introducing the Reformed GST in the Parliament.
He said to rationalise expenditures, his government removed the general subsidies and replaced these with targeted subsidies for the poor and vulnerable.
A social safety net was created through a transparent and technology driven response via the Benazir Income Support Programme, rehabilitation of the Malakand IDPs and the CitizensÂ’ Damage Compensation Programme.
He said a reform programme was being pursued to achieve a better level of governance.
“Please consider this as work in progress. Kindly be patient with Pakistan. We are a plural society trying to come to grips with our economic and social ethos. We look towards you for understanding and support.”
He said Pakistan was a large country, of more than 180 million people and remarkable diversity.
“Therefore, change would not come because of donor support to a few programmes. Your support and commitment is required over a much longer period, during which we can channelise your assistance towards institutional and structural reforms,” the Prime Minister said.

Democrats to kleptocrats

Which are the best- and worst-run countries in Africa?

ONCE again Africa’s worthiest and perhaps happiest countries are offshore, according to Mo Ibrahim’s latest measure of all-round governance, which scrutinised data gathered last year. The yardsticks applied by Mr Ibrahim, a Sudanese-born telecoms magnate and philanthropist, judge countries on a mix of four main criteria: “safety and the rule of law” (looking at the murder rate and corruption, among other things); “participation and human rights” (the little matter of being able to chuck out a bad government peacefully); “sustainable economic opportunity” (including such things as fiscal management, free markets and inflation); and “human development” (in essence, education and health care). For more on the index of African governance, see article.

More Daily charts …

Corporate governance: Pointers for predators

Proposals to make firms’ legal liabilities clearer will make them heavier

IT IS as if every homeowner were obliged to publish a map showing burglars the easiest way into his house and where his valuables are stored. That is how American businesses view a proposal that the Financial Accounting Standards Board (FASB) floated in July. The FASB wants to force firms to publish detailed information about what they might get sued for and how much it might cost them. This would provide a how-to guide for lawyers looking for targets. The FASB gave companies until September 20th to respond. They have done so, angrily.

Companies being sued already have to say so in financial statements. The new standards go much further. Firms would have to disclose any money set aside for potential settlements; not for each case, but for each type of case. This would reveal to tort lawyers the general area where the richest pickings might be. Such disclosures would have to be updated regularly, thus advertising any changes in a firm’s sense of its own vulnerabilities. …

How to Simplify Your Governance, Risk Management and Compliance Process

To comply with various standards and regulations, companies have traditionally adopted governance, risk management and compliance technologies in a commonly accepted maturity model. But here, Knowledge Center contributor Pravin Kothari challenges that traditional governance, risk management and compliance adoption maturity cycle and proposes a new model for governance, risk management and compliance technology adoption. – Governance, risk management and compliance (GRC) is a very broad discipline consisting of policies, compliance, enterprise risk, operational risk, governance and incidents. There is no such thing as a standard maturity model in terms of which specific function to start with and how to proceed after …


Corporate governance in Hungary: Always read the small print

An intriguing tale from central Europe

THE small print can make for gripping reading. Consider this inconspicuous gem from the latest quarterly report of Magyar Telekom, Hungary’s largest telecoms company:

It is one of a series of mea culpas. And the sums involved were not trivial: €7m ($9m) of contracts signed by its Montenegrin subsidiary and €24m by its Macedonian one. A law firm hired to investigate found evidence that the money spent in Montenegro “served improper purposes” and that the Macedonian contracts were designed “to obtain specific regulatory and other benefits from the government of Macedonia.” The law firm was unable to say who got the cash. …

Corporate governance in America: The fight for better boards

Financial reformers try to redefine what it is to be a shareholder

NEW regulations are emerging from Congress in response to the meltdown in the financial industry. Yet their impact, likely to be felt by every public company in America, may weaken rather than strengthen corporate governance.

It was the glaring weaknesses exposed in the boards of Wall Street giants such as Citigroup and Lehman Brothers that prompted some in Congress to propose making it easier for shareholders to nominate candidates for election as directors—something that had hitherto been costly and time-consuming. CalPERS, a big Californian pension fund, is said to have been recruiting a bench of candidates in expectation of a sharp increase in contested elections. Then something went wrong in the process by which two different reform bills passed by the House of Representatives and the Senate are likely to be reconciled. …

Wilmar off 1.4%; corporate governance risk, says Daiwa

Wilmar (F34.SG) is off 1.4% at $5.61, bucking gains by most other Singapore blue chips, as investors remain reluctant to commit despite plantation group’s repeated denial of tax-refund fraud allegations in Indonesia, according to Dow Jones.

Read more…

The rewards of virtue

Does good corporate governance pay? Studies give contradictory answers

ONCE again, corporate-governance reform is back on the legislative agenda, not least in the United States. In 2002, after the scandalous collapses of Enron and WorldCom, Congress voted in the Sarbanes-Oxley act, which was intended among other things to beef up corporate risk-management. Now, the financial reforms being considered in Washington include several proposals intended to correct flaws in the oversight of firms that were revealed in the aftermath of the financial crisis. The reforms likeliest to become law include an advisory “say on pay” vote for shareholders on the remuneration of top executives, and measures to make it easier for shareholders to nominate candidates for election to company boards.

As always, these efforts to improve corporate governance have plenty of opponents. They argue that, contrary to the claims of the reformers, the changes would harm corporate performance by wrapping managers up in red tape. In the case of Sarbanes-Oxley, which was rushed into law with too little discussion of the details, the critics of reform had a point. The case for the latest proposals seems more straightforward, however, and has been debated for many years. …

Singapore may tighten corporate governance rules for banks

Singapore’s banks, insurers and financial holding companies are likely to face more stringent requirements for independent directors on their boards under new rules proposed by the Monetary Authority of Singapore, reported Bloomberg.
 
A director may not be considered independent after serving nine straight years on a board, the central bank said in an e-mailed statement today. The number of independent directors on the nominating committee, remuneration committee and board would also be raised from one-third to a majority, according to the proposed rules, which may take effect on or after Jan 1, 2012.

Read more…

IBM Ships 2 Information Governance Products

IBM InfoSphere Business Information Monitor and IBM Optim Data Redaction are designed to help enterprises better manage the access and use of information across various platforms.
– IBM invigorated its information governance
product line Feb. 3 with monitoring and data protection software and services
aimed at improving the overall quality of business data for enterprises.

IBM’s two new software products, InfoSphere
Business Information Monitor and Optim Data Redaction, a…


Cisco Says Facebook, Twitter Use Requires Governance in Businesses

Facebook and Twitter use in enterprises require much greater governance and oversight than is currently practiced in most businesses, according to a new study sponsored by Cisco’s services group. Of almost 100 companies surveyed, 75 percent admitted to using Facebook and other consumer-facing social networks, while 50 percent of respondents admitted to using Twitter extensively in the workplace. The results come two months after Cisco began its first official foray into enterprise social networking with Cisco Enterprise Collaboration Platform, Show and Share video application and Pulse network tagging software.

The use of social networks such as Facebook and Twitter
in enterprises require much greater governance and oversight than is currently
practiced, according to a new study
sponsored by Cisco’s services group.
Cisco commissioned three business schools, the IESE
Business School in S…


SGX garners feedback on measures and rule changes to boost corporate governance practice

Singapore Exchange is inviting public comments and feedback on proposed new measures to strengthen the practices of corporate governance, and rule amendments to foster greater disclosure. Some of the proposed amendments in the consult include:

Read more…

Oracle Introduces New Governance, Risk and Compliance Applications

Oracle released two new applications for governance, risk and compliance: the Oracle Enterprise Governance, Risk, and Compliance Manager (Oracle Enterprise GRC Manager), and a new version of Oracle Enterprise Governance, Risk, and Compliance Controls (Oracle Enterprise GRC Controls). Oracle aims for the releases to help it create an end-to-end solution for its clients GRC needs. While a number of Oracles software releases throughout 2009 have focused on the midsize business market, the company continues to make inroads into the enterprise systems arena.
– Oracle announced the release of Oracle Enterprise Governance, Risk, and Compliance
Manager (Oracle Enterprise GRC Manager) and a new version of Oracle Enterprise
Governance, Risk, and Compliance Controls (Oracle Enterprise GRC Controls) on
Dec. 7. With the new releases designed to provide an end-…


SOA Software, Layer 7 Announce New Governance Solutions

SOA Software has announced a new cloud services governance initiative known as Atmosphere. Meanwhile, Layer 7 Technologies, a provider of security and governance software for SOA and the cloud, announced the general availability of the Layer 7 Enterprise Service Manager (ESM).
– SOA Software has announced a new cloud services governance initiative known as Atmosphere.
SOA Software’s Atmosphere initiative creates a unifying brand for a
suite of SOA (service oriented architecture) and cloud services
governance products the company will deliver through 2010. The
Atmosphere…


How to Carry Out Successful Cloud Governance and Adoption

Cloud computing is a dilemma for today’s CIO. The potential to cut capital expenditure and rein in operating costs is so compelling that CIOs will push aggressively for cloud adoption. However, good managers understand that cost savings isn’t the only variable to consider when evaluating whether to adopt cloud computing. Here, Knowledge Center contributor Scott Morrison offers 10 tips for CIOs to follow to successfully implement their cloud governance and adoption initiatives.
– Cloud
computing introduces new security risks and compromises the traditional
control of IT. Therefore, it is imperative that IT management establish
firm control and oversight of cloud initiatives. Cloud governance,
which is a logical evolution of current service-oriented architecture
(SOA) go…


How to Use Governance to Reduce Software Coding Errors

The cost of fixing computing errors discovered in run time has been estimated to be 20 times higher than the initial software development investment. While malfunctions and glitches have many causes, establishing best practices and policies to follow as the code is being developed can have a significant impact on the quality of the final software product. Here, Knowledge Center contributor John Favazza discusses ways organizations can use governance to improve the quality of their software code.
– Are
software development errors inevitable or have we lowered our standards
on what is acceptable before we freeze the code? The answer is probably
a little of both. Given the amount of time and effort that goes into
developing patches or deploying service professionals to address more
serious …


US President Barack Obama congratulated Hamid Karzai on his re-election as President of Afghanistan and asked him to improve governance, besides eradicating corruption. Congratulating Karzai over telephone on his re-election on Tuesday, Obama told the Afghan leader that his administration needs to be more serious in its efforts to eradicate corruption. Later, Obama said that Karzai assured him that he understood the importance of the time of his re-election. “But as I indicated to him, the proof is not going to be in words, it is going to be in deeds,” Obama said. Informing reporters about his call with Karzai, Obama said at his Oval Office, “I spoke with President Karzai and I congratulated him on his election for the second term as President of the Islamic Republic of Afghanistan.” Although the process was messy, the US President said he was pleased with the final outcome as it was in accordance with Afghan law. This, according to him, was important not only for the international community that has invested so much in Afghan success, but most importantly, is important for the Afghans that the results were in accordance with and followed the rules laid down by the country’s constitution. “I did emphasize to President Karzai that the American people and the international community as a whole want to continue to partner with him and his government in achieving prosperity and security in Afghanistan,” Obama said.

Iran said on Monday it is ready for new talks on how to procure nuclear fuel for a Tehran research reactor and prepared to purchase the supplies from any world producer.
“We are ready for the next meeting regarding the supply of fuel for the Tehran research reactor,” Ali Asghar Soltanieh, Iran’s envoy to the [...]

Obama congratulates Karzai, asks him to improve governance

US President Barack Obama congratulated Hamid Karzai on his re-election as President of Afghanistan and asked him to improve governance, besides eradicating corruption.
Congratulating Karzai over telephone on his re-election on Tuesday, Obama told the Afghan leader that his administration needs to be more serious in its efforts to eradicate corruption.
Later, Obama said that Karzai assured [...]

SAP and Novell Will Collaborate on Governance, Risk and Compliance

SAP and Novell expand their existing partnership to cover GRC solutions and more fully integrate the SAP BusinessObjects portfolio with programs offered through the Novell line of security and identity products. The combined applications will offer unified user provisioning, access control and security event monitoring.
– SAP
and Novell announced Oct. 13 an expansion of their partnership to cover governance,
risk and compliance solutions. That expansion will see a further integration
between the SAP BusinessObjects portfolio and Novell security and identity
products, aligned to address clients’ GRC issues. The co…