Construction Industry Council - Annual Report 2024

CONSTRUCTION INDUSTRY COUNCIL 38 CORPORATE GOVERNANCE REPORT Corporate Governance Framework As a statutory body, the CIC is committed to operating in an open and accountable environment so as to provide our stakeholders and public with services that are of value for money. The CIC trusts a defined corporate governance framework can: • contribute to the effective performance of the roles of the CIC; • serve to maintain the trust built on the CIC by the public regarding the use and stewardship of levies collected and other assets which the CIC is entrusted; and • enhance stakeholders’ confidence that the CIC upholds the best quality services with the highest ethical standards. The CIC’s corporate governance framework is established with reference to the following: • Corporate Governance Code and Corporate Governance Report issued by the Hong Kong Exchanges and Clearing Limited; • Corporate Governance for Public Bodies – A Basic Framework published by the Hong Kong Institute of Certified Public Accountants; and • Good Governance and Internal Control in Public Organisations issued by the Independent Commission Against Corruption. In pursuit of its Vision and Mission, the CIC’s corporate governance framework is supported by the Five Pillars: THE FIVE PILLARS Standard of Behaviour Organisation Structure and Business Processes Management Risk and Controls Corporate Citizenship Reporting and Communications