In yesterday’s International Herald Tribune, Brook Horowitz (executive director of the Russian office of International Business Leaders Forum) penned a very interesting article - Just say ‘Nyet!’ - about Russia’s new President Dmitri Medvedev’s first decree as president to to create and chair an anti-corruption committee. It has caused quite a stir in a country that has been persitently dropping in Transparency International’s Corruption Perception Index. Horowitz notes:
Largely unnoticed, many Russian companies are beginning to do something about corruption even before new legislation is put into place. They are starting by getting their own houses in order. They are strengthening corporate governance by creating clearer separation of board and management competencies and responsibilities, introducing International Financial Reporting Standards (IFRS), greater transparency of accounts and disclosure of shareholders, and nominating independent directors to the board.
CIPE and our partners in the Russian business community have been advocating for these types of reforms for a some time. The Russian Institute of Directors, for example, has been very active in developing human capital needed to ensure effective boards of directors. We’ve worked on the other fronts as well.
See full Article.
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