Center for Global Best Practices

With SECs mandatory requirement for corporations’ board of directors to practice good corporate governance comes the importance of having a functioning audit committee headed by a member of the board.   This is one of the reasons why corporations are now focused on strengthening the effectiveness of their audit committees.  To address the clamour of board directors and management for a professional and formal training on this very important issue, the Center for Global Best Practices is re-running its yearly pioneering CPD-accredited best practices program entitled, Board Directors’ Guide for Audit Committees to be held on Wednesday and Thursday of July 6 & 7, 2016 at the EDSA Shangri-La Hotel, Mandaluyong City, Philippines This unique program is designed for board chairmen who must fully understand the functions and roles of audit committees to lead effectively, for the audit committee members and chair so they know what they must really do and not do, for the b...

Achieving the right mental and emotional state is necessary for any level of success in any field of endeavor, whether it be business, personal or spiritual life.  Unfortunately, most of our mental and emotional faculties do not seem to be under our direct control.  We feel things that we would rather not.  We do things that we know are wrong or unproductive.  For example, we all know gossiping, back stabbing, favoritism, bias, deceit, and inauthenticity create a sick culture of negative politics in the office, and yet we find ourselves participating in it nonetheless.  This all happens because there are unconscious obstacles that seem to block our every move towards the life we want to live.  The problem is that in most cases, we are unaware that these obstacles are even operating.  We need to know what these are, if we are to be successful in building good relationships, a happy work and family life, and a successful business.  These are th...

Accountants and lawyers can play a big role with providing services to public officials in the preparation of their Statement of Assets, Liabilities and Net worth (SALN).  Many in government, especially the incoming newly elected ones, get into trouble because they are clueless about it.  More than 70% of public officials and government employees do not take to heart the preparation and filing of their SALNs when they should be. Many of them simply rely on their secretaries who are not skilled enough in preparing these really important documents. These days, we constantly hear news of public officials from national government agencies, GOCCs and LGUs suspended from office by the Ombudsman and convicted by the Sandiganbayan because of incorrect and erroneous SALN.  This has caused the downfall of leaders with their impeachment/ conviction and removal from office while others are in jail awaiting completion of their trial with their reputation sullied and destr...

You are a startup success.  Fine!  But if you want to achieve your big ambitions and sustain the continued growth of your family business, you need to professionalize it the RIGHT way.  Businesses go through stages of development from new venture, expansion and growth stage, then comes professionalization.  This is according to Dr. Eric Flamholtz of the highly acclaimed book, “Growing Pains”. The new venture and expansion stages constitute the entrepreneurial phase of organizational development.  It is during these two stages of growth that the classic skills of entrepreneurship are most relevant.  It is also during this phase that the need to make the transition from entrepreneurship to an entrepreneurially oriented, professionally-managed organization begins to occur.  Those family businesses who are able to transition successfully experience a more rewarding and fulfilling journey in growing their businesses.  How to professionalize is the...

When do you know it’s time to set an internal audit function for your business? An internal audit group or a person is essential as soon as you start delegating key functions to other people such as finance, cash disbursements and receipts, procurement of inventories, maintenance, and even marketing. Someone has to review if the work is done right and complying with policies and procedures to ensure that no cheating, fraud or abuse is happening.  The Center for Global Best Practices is launching this special CPD-accredited program entitled, “ Best Practices on How to Set Up an Internal Audit System ” on Thursday and Friday, May 19 & 20, 2016 at the EDSA Shangri-La Hotel, Mandaluyong City, Philippines.  For details and a complete list of seminars including Best Practices for Audit Committees, you may log on to www.cgbp.org or contact program leader Lara Magnait via email lara@cgbp.org; Manila landlines 842-7148/ 59 & 556-8968/ 69 or Cebu lines: (032) 512-3106/ 0...