CG system assessment

Since 2012 the Center has been closely cooperating with International Finance Corporation ((IFC) member of the World Bank group) with the aim to promote the increase of efficiency, competitiveness and investment attractiveness of companies and the economy of the country in general through the improvement of corporate governance practice in Armenian companies. The key element of the cooperation is the evaluation and analysis of corporate governance practice, which is based on the IFC’s corporate governance assessment methodology that is deemed to be of the highest quality in the world and is accepted by over thirty international financial institutions (http://www1.ifc.org/wps/wcm/connect/Topics_Ext_Content/IFC_External_Corporate_Site/Corporate+Governance/Investments/Methodology/).

It gives an opportunity to evaluate and analyze all components of company’s corporate governance practice, to have an overview of current state of the company’s corporate governance system and to define the directions of strategic development of corporate governance systembased on it, to promote the corporate governance to become the company’s management culture, business style, that is to reform the company’s corporate governance system based on global best practice.