IFC AZERBAIJAN CORPORATE GOVERNANCE PROJECT SELECTED ITS SECOND PILOT COMPANY

15.04.2006 [15:15]
Print
A⁺ A^-

The International Finance Cooperation Azerbaijan Corporate Governance Project (ACGP) has selected its second pilot company - AZEL Azerbaijan Electronics Joint Stock Company.

AZEL was selected taking into account its strong commitment to improving corporate governance practices. The vivid example is that the Company recent financial statements was prepared in accordance with International Financial Reporting Standards and audited in accordance with International Standards of Accounting by an international auditing firm. In addition, AZEL has implemented a corporate code of ethics, which it views as a significant step towards improving its corporate governance.

The company has expressed significant interest in working with the ACGP. The shareholders and top management of the company have attended the Project seminars and to date, the company has received several consultations and a workshop. With the ACGP assistance, AZEL prepared a new company charter based on best practices of corporate governance in compliance with current Azerbaijani legislation.

IFC AZERBAIJAN CORPORATE GOVERNANCE PROJECT SELECTED ITS SECOND PILOT COMPANY

FEEDBACK

Other news in this section