Corporate governance

A regional Conference “Strengthening Corporate Governance in Albania and Kosovo: Sustainability Reporting and Increased Role of the Audit Committees” was held in Tirana, Albania on November 10, 2022. The event focused on further implementation of corporate sustainability reporting measures that encompass social and environmental reporting. It also addressed the increased role of audit committees.

The National Agency of State Property of Georgia (NASP) organized the roundtable on “Importance of Good Corporate Governance and Transparent Accounting and Reporting at State Owned Enterprises (SOEs)”. The event, which gathered over 40 representatives of the NASP and approximately 15 members of Georgia’s largest SOEs, was held with the support of the World Bank’s Centre for Financial Reporting Reform (CFRR) and the International Finance Corporation (IFC).

The Workshop hosted virtually about 90 participants from about 20 countries.

The private equity market in the Western Balkans is at a very early stage of development and there is currently limited investment opportunity. The main source of financial capital available for Small and Medium-sized Enterprises (SMEs) throughout the region currently is through banks; by obtaining lines of credit, bank loans and other forms of debt. Alternative sources of capital are either non-existent or in very low supply.

The second round of training for civil servants from the Ministry of Finance of Moldova was organized between April 2 and 6, 2018. Over 50 board members representing the Ministry of Finance on SOE boards and representatives of the recently reorganized Public Property Agency participated in a three-day workshop, covering the most important aspects of corporate governance in state-owned enterprises.

Professional Accountants bring to bear their skills in applying international accountancy standards that increase the credibility and trustworthiness of financial reporting in all sectors of the economy.  However, in the world of Private Equity, fund managers are often required to analyze opportunities and make investments in environments where financial accounts are of questionable quality. So, what is the role for a professional accountant in private equity?