New ICSA Initiative to Strengthen Governance in the Baltics

Lithuania, Other Regions

12/07/2011 — LONDON — (BUSINESS WIRE)

Seamus Gillen, the Director of Policy at the Institute of Chartered and Administrators (ICSA) will be speaking at a seminar on board effectiveness at the British Embassy in Lithuania today.

ICSA, which is the qualifying body for Chartered Secretaries and the worlds leading authority on corporate governance, has recently provided a leading piece of guidance on board effectiveness for the UKs Financial Reporting Council. The purpose of the guidance is to help boards avoid some of the problems that contributed to significant value destruction during the recent global financial crisis.

The seminar, which is being organised by David Hunt, the British Ambassador in Lithuania, is part of a joint initiative with the Baltic Institute of Corporate Governance to improve corporate governance in the region. The Baltic Institute will be launching its own Corporate Governance Guidance for unlisted companies in the Baltics at the event.

Seamus Gillen said: We are delighted to have been given this opportunity to work more closely with the Baltic Institute of Corporate Governance. Good governance is an essential part of the process in rebuilding confidence in the economy and encouraging investment in the Baltics

Kristian Kaas Mortensen, President of the Baltic Institute of Corporate Governance said: Publishing the recent guidance on board effectiveness gives the UK yet another leap forward in being a global leader in corporate governance. We in the Baltics can learn much from the UK corporate governance traditions and are thankful to ICSA and the Financial Reporting Council for supporting us

Editors notes

1. The Institute of Chartered Secretaries and Administrators (ICSA) is the worldwide professional body for Chartered Secretaries and a leading global authority on corporate governance. Chartered Secretaries are high-ranking professionals with a broad base of skills unique among the professions. Trained in law, finance and accounting, strategy, governance and ethics, Chartered Secretaries provide a focal point for independent advice and guidance about the conduct of business, governance and compliance.

2. Through its thought leadership in the areas of boardroom behaviour, reporting and risk management, its influence with government and regulators, and the work of its members, ICSA is helping to shape the governance agenda and promote the best practice essential to achieve enhanced board performance.

CONTACT:

ICSARosie Hamilton020-7612-7062pressoffice@icsa.co.uk

KEYWORDS: United Kingdom Lithuania Europe

INDUSTRY KEYWORDS: Public Policy/Government Other Government Professional Services Consulting Finance

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