Supervisory boards of state-owned companies will report in a new way: Cabinet of Ministers approves procedure
8 October 2024 15:04
The Cabinet of Ministers has approved a procedure for the supervisory boards of state-owned companies to report on their work. This was reported by "Komersant Ukrainian" with reference to the CMU.
The procedure was approved at a government meeting on 4 October. The document was developed by the Ministry of Economy of Ukraine to implement the provisions of Law 3587-IX, which improves corporate governance.
The report on the activities of the supervisory board will be part of the company’s annual report. It should contain information on the fulfilment of the indicators from the owner’s waiting list. Namely:
- implementation of the company’s strategic plan;
- financial results (profitability, liquidity, etc.)
- the amount of payments to the state;
- the amount of budget funding.
Calculations in the report should be made according to international EBITDA standards.
Based on the report, the Government will be able to assess the effectiveness of the supervisory boards of state-owned companies.
