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Gist of Presentation
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Dr Moses CHENG Mo-chi, GBS, JP :
- We can see from today's case study, as well as recent corporate scandals around the
world, that the crux of the problem is not an insufficient regulatory framework, but the
collapse of personal integrity. While we must plug the loopholes in the existing regulatory
framework, it cannot guarantee that everyone will act honestly and adhere to a high
ethical standard.
- Good corporate governance does not mean merely implementing best practices, but
establishing an ethical corporate culture. As Sir John Harvey-Jones said, "It is impossible
to change organisations which do not accept the danger of their present way of doing
things … organisations only change when the people in them change; and people only
change when they accept in their hearts that changes must occur."
- In other words, to entrench an ethical corporate culture, the management must take the
lead through continuous training and promoting integrity in their company.
- I hope that every one of us will practise what is emerged from our discussions today.
Professionals here also need to adhere to high professional standards and help their
corporate clients establish an ethical culture to foster better corporate and investment
environment.
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