Redundancies, reduced hours, cut backs and postponing major projects are some of the steps which companies have had to take in Fiji and around the world, to remain in business in-light of the global recession.
And to help the boards of companies in Fiji make informed decisions, CPA Australia has organized a two day workshop on Corporate Governance at the Westin at Denarau.
The main presenter, Courtney Clowes highlighted to those present how the huge bonuses and benefits paid to executives and senior board members, led to multi -million dollar corporations going into bankruptcy in the US.
Clowes said Fiji can learn from this as there needs to be a clear link between the performance of a company, and the bonuses and benefits paid out.
He also stressed the need for all shareholders in a company, to have a say on the remuneration package of executives and board members based on their performance.
The workshop continues this afternoon.
CPA Australia organizes workshop
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