Page 104 - SC SCAR 2023 ENGLISH Flipbook

PART 4 STRATEGIC ENGAGEMENTS WITH STAKEHOLDERS
SHARED ACCOUNTABILITY
Throughout 2023, the SC continued to engage with various stakeholders towards enhancing shared ambitions and stewardship for the capital market. These opportunities to establish and nurture closer ties with key stakeholders enable the SC to establish facilitative policies, a robust regulatory framework, and foster continuous capital market growth and development.
Strengthening Corporate Governance
In 2023, the SC continued efforts to promote the adoption of good corporate governance practices in the capital market, including bringing together and working with domestic and international stakeholders through various fora. From 11 to 12 October 2023, the SC hosted the OECD Asia Roundtable on Corporate Governance, which gathered over 150 senior delegates
from across Asia to discuss the current issues in corporate governance. The Roundtable also witnessed the Asia launch of the revised G20/OECD Principles on Corporate Governance, officiated by Yang Berhormat Datuk Seri Ahmad Maslan, the then Deputy Minister of Finance I, witnessed by the SC Chairman, Dato’ Seri Dr. Awang Adek Hussin and the OECD Deputy Secretary General, Yoshiki Takeuchi.
In addition, on 10 October 2023, the SC co-hosted the International Auditing and Assurance Standards Board (IAASB) Asia Pacific Roundtable, which discussed the International Social Security Association (ISSA) 5000, General Requirements for Sustainability Assurance Engagements – the draft standard on sustainability assurance. These discussions involved over 70 participants from markets across the Asia Pacific region including accounting and auditing firms, accounting standard setters, audit oversight bodies, capital market regulators, and institutional investors.
At the ICGN-Hawkamah Conference held in Dubai from 28 to 29 November 2023, the SC was invited to share its perspective on the role of boards in governance sustainability. The conference co-organised by the International Corporate Governance Network and the Hawkamah Institute of Corporate Governance had the participation of close to 200 delegates. The SC shared its efforts to support boards in providing the strategic oversight of a company’s sustainability risks and opportunities, which includes structured training for directors on sustainability.
Meanwhile, the SC remained vocal in its support for diversity as a vital component of good corporate governance practices. Among other avenues, the SC
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SECURITIES COMMISSION MALAYSIA ANNUAL REPORT 2023