Ernst & Young engages company directors on Corporate Governance in the UAE

Ernst & Young's Directors' Workshop, titled "Achieving Effective Corporate Governance in the UAE", aims to help actively initiate, inform and stimulate that dialogue.

"Creating effective corporate governance is a complex matter. The issues are many and varied, and building a common understanding and finding the right solutions requires dialogue. This workshop was developed with the intent of helping directors frame the questions that they should be asking to improve the corporate governance practices in their organizations," said Ali Al Shabibi - Partner, Business Risk Services - Ernst & Young, Dubai.

Ali will be leading the one-day workshop. With extensive Big 4 experience in London, Singapore and Dubai, he has over 17 years of experience in external audits and Business Risk Services, and advises clients on matters relating to internal audit, risk management, and corporate governance.

Globally, the corporate scandals of the past two years have had a profound effect on the way companies do business and on the attitudes of regulators and shareholders. Corporate governance practices have continued to develop in 2005. Companies everywhere are challenging their governance structures and are striving to strengthen their practices where necessary, and those with great corporate governance address governance-related matters with depth and vigor and reflect a willingness to communicate and make tough decisions.

The Workshop, which will be held at the Al Murooj Rotana Hotel, addresses the history and developments of corporate governance, recent worldwide corporate scandals, global best practices, and the Ernst & Young corporate governance model. It also seeks to engage company directors in discussions on the obstacles and challenges of achieving corporate governance in the UAE, functions of Board of Directors and Audit Committees in an organization, communication with shareholders and issues involving the management of the Board's affairs.

"How we govern our corporations plays a central role in the strength and health of our regional and global economies. Corporate governance affects every level of an organization and it is crucial that management understands and communicates all the issues involved so they can deal with them effectively," said Edward Quinlan - UAE Country Partner, Ernst & Young.