Good corporate governance dictates that the we comply with all applicable laws and regulations and that our operations are sustainably, responsibly and efficiently managed in the interests of our shareholder and stakeholders. Our values, policies, guidelines and code of ethics are important tools in our approach to doing business. Therefore, good corporate governance underpins our systems of accountability, transparency and efficiency.
As a Government organization, our corporate governance principles are rooted in internationally accepted standards and are locally guided by and subjected to:
- The Government of Jamaica Corporate Governance Framework for Public Bodies (2012)
- The Public Bodies Management Accountability Act (2012)
- Financial Administrative & Audit Act
- Companies Act of Jamaica (2004)
Our corporate governance guidelines allow for a transparent structure with clear and discrete responsibilities at each level and which places a premium on accountability. Accordingly, we are required to submit reports to various Government Ministries, Departments and Agencies. These include:
- The annual report which is due within 120 days of the end of the Financial Year
- The annual Corporate Plan to the Ministry of Finance and Planning, outlining our objectives and expected performance for the next three years.
- Quarterly Contracts Awards which are submitted to the Public Procurement Commission on a quarterly basis
- Monthly procurement reports which are required by the Ministry of Finance & Planning