In pursuance of the functions assigned, the Commission shall:
- Provide methodological support for the introduction and development of the corporate governance principles according to legislation;
- Inspect issuers’ activities regarding the corporate governance;
- Generalize the case law on the corporate governance.
Corporate governance is one of the key elements and a prerequisite for the success of a joint stock company. The goal of effective corporate governance is to achieve optimal balance of interests of all parties: shareholders, management, clients, suppliers, creditors, the State, and society. Corporate governance covers almost all areas of JSC—planning, internal control, production performance evaluation, disclosure, etc.
In Ukraine, most of companies chose the joint-stock legal structure, therefore the implementation of the best corporate governance standards by them is of great importance for the national investment attractiveness.
The key to implementing corporate governance innovations is to bring the internal documents of JSC into compliance with the effective statutory provisions. This is resulted in the urgent need to work out the standard Articles of Association for public and private joint stock companies, the Regulation on Corporate Secretary, the JSC Information Policy Regulation, etc.
Corporate governance in Ukraine is developed under the Law of Ukraine “On Joint Stock Companies” and regulatory legal acts, methodological recommendations and documents in this field adopted by the Commission.
JSCs in Ukraine may form the corporate governance system according to the globally accepted Corporate Governance Principles of the Organization for Economic Development and Cooperation.