Survey on Compliance of Code of Corporate Governance, 2012
Deloitte Pakistan recently conducted a survey based on publicly available information on a selected sample of companies. The companies selected included all companies in the KSE 30 index, 10 companies from the KSE 100 index, and 10 other listed companies. This formed a diverse sample, as it is expected that companies that are a part of performance indices be fully compliant with good corporate governance practices. The findings proved to be quite interesting on various levels.
The Code of Corporate Governance was introduced in 2012, and is applicable to listed companies on a phased implementation schedule. All but one of the requirements (mandatory training of directors) have come into force. This survey contains few questions to which the responding companies are 100 percent compliant. There are also few questions where the majority of the surveyed organizations are in compliance (i.e., more than 80 percent). This survey analyzes the questions where compliance is below the minimum level.