The Private Sector Organisation of Jamaica (PSOJ) in collaboration with the Ministry of Finance and the Public Service (MOFPS) has established the annual Public Sector Corporate Governance Awards. These awards are applicable to those Public Bodies which are governed by the Public Bodies Management and Accountability Act (PBMA) and the Corporate Governance Framework for Public Bodies in Jamaica. The first staging of the awards was for FY2016/17 and covered four (4) categories and an overall winner. The categories were: Board Composition, Functions and Structure; Corporate Governance Policies, Procedures, and Practices; Compliance and Disclosure of Information; Risk Measurement and Internal Controls.
The objectives of the Public Sector Corporate Governance Award are to: promote awareness and adherence to the principles of good corporate governance; encourage improvements in the standard of corporate governance disclosure; and recognize Public Bodies that have established high standards of corporate governance disclosures and practices.
The Corporation copped the 1st place award in the category of ‘Best Corporate Governance Policies and Procedures‘, and was – awarded 1st runner-up for Compliance and Disclosure of Information. In a special category ‘Best Annual Report’, sponsored by the Jamaica Stock Exchange, the Corporation was again awarded 1st runner-up.
The awards function was held on December 13, 2017. JDIC’s CEO, Ms. Antoinette McKain congratulated the Chairman, the JDIC Board, Corporate Secretariat, the Management, and staff who made JDIC’s success possible.