Qualifications for Cayman directors established

The Cayman Islands Directors
Association has joint ventured with the Institute of Chartered Secretaries and
Administrators in Canada to offer members of CIDA the opportunity to take a
course and examinations leading to a qualification in corporate
governance, strategy, finance and enterprise risk management, which will
entitle successful candidates to the Accredited Director designation.

 Last week 25 members of CIDA
sat the exams at the Ritz Carlton. This was the maximum permitted at any one
course out of a present membership of 150. The course comprises approximately
400 pages of pre reading materials followed by intensive interactive
presentations by lecturers from Canada and the Cayman Islands.

 Paul Harris, president of
CIDA, said he was delighted that CIDA had been considered by ICSA as a joint
venture partner since, with 36,000 members in 70 countries, the Chartered
Institute of Secretaries is recognised as the world’s leading authority on corporate
governance working alongside governments to promote best practice in corporate
governance and business management.

 Mr. Harris also said he was
glad that CIDA had been given the opportunity to demonstrate that professionals
in the Cayman Islands were serious about their responsibilities in the
corporate governance arena.

 The course comprises four
modules; corporate governance, finance, enterprise risk management and strategy
and applies to all businesses including hedge funds.  Corporate governance
and enterprise risk management was presented by past President of the Institute
of Chartered Secretaries in Canada Janis Riven.  Janis is based in
Montreal and in addition to her consultancy practice she is currently a
Lecturer at the John Molson School of Business, Concordia University, where she
teaches Corporate Governance.  Strategy was presented by Duncan Cameron,
also a full-time faculty member of the John Molson School of Business, at
Concordia University. Prior to joining the faculty he served as group vice president
of a Canadian chartered bank, and as a director of a number of companies and
non-profit organizations.  Finance was presented by Tim Derksen and other
representatives from Deloitte in the Cayman Islands.