The Mauritius Institute of Directors (MIoD), through its Audit Committee Forum (ACF), launched on August 14 a slew of regular meetings between regulators, board members, and committee chairs designed to boost transparency, responsibility, and efficiency of governance wings in Mauritius.
The first edition hosted at the seat of the MIoD at Ébène has brought the Financial Reporting Council (FRC) as well as chair and committee members of the public and private sector together to discuss the theme, “Enhancing Corporate Reporting and Audit Quality: A Shared Responsibility” centering on the recent developments taking place on regulatory frameworks, expectations in terms of adhering to existing and new norms impacting the strategic role of audit committees.
The CEO of MIoD and chairperson of ACT, Sheila Ujoodha, commented: “The audit committees find itself at the centre of a rapidly evolving governance environment, subject to increasing expectations and vigilance on the part of stakeholders. The series launched today addresses a fundamental need: enabling managers and regulators to engage in a direct dialogue, share views, and clarify expectations to act with confidence and accuracy. The first session held with the FRC marks a concrete step towards better mutual understanding and a more robust corporate governance. The MIoD, through the ACF, remains fully committed to providing platforms and resources, supporting the active audit committees to anticipate, adapt, and excel in their mission.”
On its part, the Chief Executive of the Financial Reporting Council (FRC), Viswajithsing Tuhobol, commented: “As a guarantor of robust financial reporting and governance standards, the FRC ensures that they evolve in line with the current economic and regulatory challenges. This new step in the framework of the Audit Committee Forum embodies our willingness to implement a strategic, direct, and sustainable dialogue with the audit committees, in order to anticipate developments, adjust practices, and strengthen compliance. By collaborating with the MIoD, we contribute to improving the quality and effectiveness of governance bodies in Mauritius.”
With this series of meetings, the MIoD reaffirms its commitment to actively support robust governance in Mauritius by creating concrete bridges between the regulators and managers. The first dialogue with the FRC paves the way for regular exchanges that will contribute to building a more transparent, predictable, and resilient business environment, benefiting organizations, markets, and the governance community in Mauritius.
