"Scorecard" project for good corporate management presented

The "scorecard" project, which will make it possible for the companies to compare the established with the best corporate management practice, was presented today (November 19, 2009) at the 8th International Conference of the Belgrade Stock Exchange.

The corporate management "scorecard" is actually a questionnaire that enables simple review and evaluation of the level of corporate management in companies.

The project will be implemented by the Belgrade Stock Exchange and International Finance Corporation (IFC) within the scope of the South Europe Corporate Management Programme, which is conducted by IFC with the financial support of Swiss State Secretariat for Economic Affairs (SECO).

- The work on the project commenced in September 2009, and it will be finished in May 2010. The application of "scorecard" will start in 2010 - it was announced on the first day of the two-day conference "Upgrade in Belgrade".

The "scorecard" project comprises three stages - elaboration of documents, testing and educational programmes.

The first stage is in its final phase, while the second stage will include testing of "scorecard" in about ten companies whose securities are traded in the Stock Exchange.

Based on the answers to the questions in "scorecard", the level of harmonization of the corporate management in a company with the best practice recommendations is expressed in percents.

That questionnaire also makes it possible for companies to see where they make mistakes and work on further improvement of the corporate management practice.