With the increasing focus on the roles and responsibilities of Directors at the Board level, there are now plans to introduce legislation that will give legal backing to the existence of Papua New Guinea Institute of Directors, PNGID President Ian Tarutia said.
Membership of PNGID at present is voluntary, however, under the proposed legislation, it will be compulsory for persons wanting to become Directors on Boards to be members of PNGID – similar to the current arrangement for other specialised fields of work.
Given the increasing scrutiny being placed on decisions made by Directors of Board of organisations both in the private and public sector, the proposed legislation to go before Parliament will be similar to other specialised areas of work, such as that for Accountants, Lawyers, Engineers, etc…
In addition to the proposed legislation, PNGID is also working to build capacity for people who may become Directors in the future, with PNGID partnering with University of Papua New Guinea on a Director Pipeline Project.
These projects by the PNGID are all aimed at ensuring that the quality and pool of directors in Papua New Guinea are improved in the coming years.
Mr Tarutia is hopeful that these measures being taken by PNGID will enable Directors to understand the importance of their roles, regardless of their sector.