Code. Progress has also been made relating to their involvement in discussions on reforms to
be undertaken with a view to improving the business environment in the country.
Objective 3:
To promote the adoption of good business ethics standards in achieving the
objectives of the corporation
The APR Panel recommended that national awareness-raising campaigns be carried out to promote
business ethics, work ethics and individual ethics and integrity, respect for the systems, efficiency and
effectiveness, importance of safeguarding national assets, conflict of interests, etc. (i); to promote the
education of shareholders and dissemination of information to empower shareholders to assess and
claim their rights, but equally important, to reform their responsibilities toward the corporations (ii); to
create the Institute of Accountants to promote self-inspection through compliance with the IFRSs and
best practices in the corporation’s (iii); to train the media so as to strengthen their investigative capacity
in promoting business ethics standards (iv); and to support the CTA to ensure self-regulation of its
members in Mozambique (v).
243. In view of the recommendation by MARP’s Panel of Eminent Personalities, awareness-raising
and education campaigns were expected to be carried out in several areas of economic
activity, conflict of interests and on shareholders’ rights, aimed at increasing public knowledge
vis-à-vis the adoption of good business ethics and the application of best practices. However,
there is no evidence of a set of coordinated actions having been taken in this sense, and the
only records are of some effort being made to create and disseminate codes of ethics in
addition to some radio and television awareness-raising campaigns on ethics and the
preservation of public goods.
244. Regarding the APR Panel recommendation on educating shareholders, as well as empowering
them to assess and claim their rights and on raising awareness in terms of their obligations,
there is no evidence of concrete actions carried out to implement this recommendation.
245. In that which concerns the recommendation to establish an association of accounting
professionals, it must be mentioned that the Institute of Accountants and Auditors of
Mozambique has already been established and represents a significant achievement in terms
of this recommendation by the Panel. The Institute is currently being organised and the more
operational aspects are expected to be implemented once the management body has been
elected.
246. In this objective, the APR Panel also recommended that training actions be held for the media
in order to strengthen their investigative capacity to promote business ethics standards.
However, there is no evidence of any training sessions being held, resulting in no noticeable
progress in this recommendation.
247. Regarding the strengthening of the CTA, the confederation has been carrying out several
actions in terms of Corporate Governance, and its leading role in promoting aspects relating to
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