nternational Accounting Standards;
В· Companies file more reliable information about their profits;
В· Companies increase the transparency and quality of corporate disclosure.
NSCG
MoF
В· 3 months
В· Ongoing
В· In consultations with GSIA.
В· National Anti-Corruption Bureau of Georgia (NACB) conducts the assessment of the activities carried out by the tax administrations.
В· The level of corruption is reduced (Objective 10);
В· Transparency of corporate disclosure is increased (Objective 12);
В· Reliability of financial disclosure is increased (Objective 28);
В· Corporate governance practice is improved (Objective 17). /Td>
В· Index of corruption is lowered;
В· Companies file more reliable information about their profits;
В· Companies increase the transparency and quality of corporate disclosure.
NACB
В· Ongoing
В· With the technical assistance of the WB.
В· Georgian Securities Industry Association (GSIA) should conduct training courses, seminars, workshops, etc. amongst shareholders, company directors and members of supervisory boards on the best practices of corporate governance;
В· NSCG enforces the corporate governance standards.
В· Educational campaign is conducted (Objective 27);
В· Shareholders have sufficient knowledge about their rights (Objective 26);
В· Entrenched culture of abusive self-dealing is lessened (Objective 16);
В· Shareholders 'meetings are held regularly (Objective 29);
В· The role of supervisory boards is increased (Objective 35);
В· Corporate governance practice is improved (Objective 17). br/>
В· Majority of company directors and members of supervisory boards, as well as interested shareholders take part in training courses;
В· NSCG conduct quarterly/annual audits of JSCs;
В· Shareholders 'meetings are held annually;
В· Supervisory boards 'meetings are held on a quarterly basis.
NSCG
GSIA
В· 1 year
В· Ongoing
В· With the financial and technical assistance of the USAID. /Td>
В· Prepare and adopt the regulations for Pension Funds;
В· Prepare and adopt the regulations for Mutual Funds.
В· Legislation for financial intermediaries is adopted (Objective 23);
В· Financial intermediaries are well-developed (Objective 21);
В· Large domestic insti...
