The Baltic Institute of Corporate Governance (BICG) has launched the Handbook for Baltic Boards and Businesses to serve as a practical guide for Boards, owners and managers on how to build stronger companies through good corporate governance.
Featuring a foreword and endorsements by corporate governance experts from the Organisation for Economic Co-operation and Development (OECD), the European Confederation of Directors’ Associations (ecoDa) and the Nasdaq stock exchange, the Handbook is grounded in globally recognised good corporate governance principles and then goes further by showing how they translate into practice.
“Good governance theory is not hard to find. What has been missing is a single place where it is gathered, explained and turned into practice, for every type of company. The BICG has now created that manual, unique across the Baltics and beyond. Filled with actionable advice, questions to ask and ready-to-use templates, it is written to be used every day,” says Rytis Ambrazevičius, President of the BICG.
Boards may use the Handbook to review their roles, responsibilities, agenda planning, committee structure, evaluation process, information flows and relationship with management. Shareholders may use it to better understand their rights, responsibilities, process of establishing a Board and their interaction with it. Management may use it to clarify expectations from the Board and to strengthen reporting, internal control, risk management and execution of strategy.
Companies may also use the Handbook as a self-assessment tool, as each chapter can serve as a basis for discussion: does the company follow this principle; is the current practice proportionate to its size, ownership structure and risks; what should be improved; and who is responsible for the next step?
While written for the Boards working in Estonia, Latvia and Lithuania – three small and open economies where the same people move between listed, state-owned, family companies and company groups – it is also a reason why the Handbook offers advice actionable in all types of companies.
CONTACTS
Rytis Ambrazevičius
President
Baltic Institute of Corporate Governance
+370 698 17011 | rytis[at]bicg.eu
