Balanced Scorecard on November 23.2014

Jordan Securities Commission (JSC) will hold a four day workshop on “Corporate Governance Balanced Scorecard” from November 24 to 27.2014 in cooperation with the International Finance Cooperation (IFC) affiliated to the World Bank. The workshop will be attended by representatives from Boards of Directors of Public Shareholding Companies listed in the Amman Stock Exchange (ASE).

Chairman of the Commission HE Mr Mohammed Saleh Hourani stressed on the importance of this workshop. It aims to consolidate the Corporate Governance Code and disclosure, to develop the national capital market and to implement best standards and international practices including good corporate governance principles to manage Public Shareholding Companies, to consolidate protecting investors and to guarantee the interests of all parties concerned. Furthermore, the workshop aims to identify companies with the Balanced Scorecard concept, how to fill it in since it is one of the contemporary management systems used by companies to measure the extent of compliance with implementing the Corporate Governance Code and to specify weakness areas to solve and to identify strength areas to elevate and improve.

HE Mr Hourani indicated that the Commission’s Board of Commissioners is in the process of issuing a decision obliging companies to annually fill in the Balanced Scorecard in coincidence with preparing their Annual Reports and filing them with the Commission within the specified legal period of time in the Securities Law and the Instructions to Disclosure issued pursuant thereto. The Balanced Scorecard must be signed by the Chairman and Members of the Auditing Committee.
       
“The workshop is important and companies are required to disclose. We wish from all effectively participating companies to be represented by one member of their Board of Directors, preferably the Chairman of the Auditing Committee”, HE Mr Hourani elaborated.