Publication: Georgia - Report on the Observance of Standards and Codes: Corporate Governance Country Assessment
Date
2021-11-30
ISSN
Published
2021-11-30
Author(s)
World Bank
Abstract
This report assesses the Republic of
Georgia’s corporate governance (CG) policy framework, as it
stands in December 2021. The report on the observance of
standards and codes (ROSC) highlights recent improvements in
CG regulations, assesses actual practices, makes policy
recommendations, and provides investors with a benchmark
against which to measure CG in Georgia. The report focuses
on the governance of public interest entities (PIEs), which
in Georgia are defined by law to include listed companies,
banks, and state-owned enterprises (SOEs). The report draws
on several sources of data, including a detailed country
assessment completed by Dentons Georgia LLC, that covered
both the legal framework and CG practices. Recommendations
draw on a range of internationally recognized standards,
guidelines, and practices, and the latest available research
produced by the World Bank and others. The report also uses
the policies and practices outlined in the World Bank’s
integrated SOE framework (iSOEF) and toolkit on CF of SOE,
for the assessment of SOE governance frameworks and
practices. This report offers a comprehensive assessment of
the existing CG policies and practices in Georgia, and
suggests policy recommendations for consideration, which are
summarized in a sequenced action plan. The report and its
recommendations are tailored to the country’s context and
its current development stage and reflect the recent
improvements to the legal and regulatory environment.
Citation
“World Bank. 2021. Georgia - Report on the Observance of Standards and Codes : Corporate Governance Country Assessment. © Washington, DC: World Bank. http://openknowledge.worldbank.org/handle/10986/37572 License: CC BY 3.0 IGO.”