ACCA and the Pakistan Business Council’s Centre of Excellence in Responsible Business (CERB) released their joint survey ‘Ethical Mindset: From Vision to Practice’ at a high-profile event featuring corporate leaders here in Karachi. The survey gives a holistic view of current dynamics of ethics and governance practices in Pakistan’s corporate sector.
The launch event in Karachi featured a thought-provoking panel discussion including contributions from leading figures in the corporate sector and accountancy profession, including Dr. Zeelaf Munir, Managing Director & CEO, English Biscuit Manufacturers (Pvt.) Limited, Mr. Aamir Niazi, CEO – People and Business Advisory – HRSG, Ms. Raeda Latif, Head of Marketing & Business Development, PSX, Mr. Khalid Awan, Chairman, TCS Holdings (Pvt.) Limited, Shabbar Zaidi, Senior Territory Partner, A. F. Ferguson & Co. and Ms. Hena Sadiq, Partner, Audit and Assurance, Deloitte.
Keynote speakers at the event included Ms. Hedd Megchild, Head of Business Integrity Initiative the Department for International Development (DFID) and Mr. Arif Masud Mirza, Regional Head of Policy – MESA, ACCA.
In a written message, Helen Brand OBE, Chief Executive, ACCA said:
“While ACCA’s main responsibility is ensuring our members operate to the highest standards of ethics and professionalism, we also take leading role in seeking to drive an appreciation of, and an adherence to, ethical conduct and practice across the business world. The ethical landscape is a complex ecosystem and one which requires everyone and everything within it to be operating in concert, with shared values and a common understanding.”
In the opening remarks, Dr Zeelaf Munir, CEO EBM and board member PBC, highlighted:
“CERB is the first of PBC’s outreach initiatives to build capacity and capability of small and medium-
sized businesses in Pakistan. CERB’s mission and vision greatly aligns with the PBC Members as PBC has also adopted the World Economic Forum’s (WEF) Compact for Responsive & Responsible Leadership.”
Speaking at the conference Mr. Sajjeed Aslam, Head of ACCA Pakistan said:
“All businesses in Pakistan operate in the triple context of the economy, society and the environment and ACCA believes that the good corporate governance is about being mindful of the impact that a business model has on its surrounding and the way a business can contribute to the long-term health of the company. Hopefully this report will help businesses to examine their vision and strategic direction in a broader context, which will in turn allow their organisations to achieve sustainable growth.”
Whilst addressing the audience, Mr. Khalid Awan, Chairman, TCS Holdings (Pvt.) Limited in his keynote stressed:
“The real valuation of businesses is no longer the balance sheet. The greatest value driver of the enterprise is the first goodwill that you have generated’.
The survey and event both highlighted that companies do place emphasis on an ethical culture and there is a need for greater employee engagement on the topic of ethics to do justice to the company values.