The aggressive institution of the secondary market and goods has prepared proposed amendments to the Corporate Governance Guidance of public companies. According to the new proposals, all companies with capital exceeding 10 million dinars will be required to approve rules and procedures of corporate governance and policies for information disclosure. Companies will also be required to publish an annual report on corporate governance on their website. One of the significant amendments concerns auditors of companies, which will be prohibited from providing any other services besides auditing within the same company. This step is aimed at ensuring compliance with the principles of independence and professionalism.
"We strive to enhance transparency and accountability in the corporate governance of companies in the local market. The new amendments will help improve the quality of governance and increase trust among investors," noted the Chairman of the Management of the institution.
The proposed amendments also include a requirement to create a committee of independent directors within companies, whose capital reaches 100 million dinars or more. This committee will be responsible for strengthening control and ensuring compliance with corporate governance norms. In addition, all companies will be required to develop a policy for the payment of dividends and disclose information on its implementation. The new amendments aim to improve management practices in companies and enhance transparency of activities.
