On December 7 of this year the State Assets Management Agency (hereinafter referred to as the Agency) jointly with the international consulting company "Deloitte" organized a seminar on "Corporate Governance" and "Compliance" for the Agency's employees with the participation of Rustam Mukhametshin, Director for consulting of Deloitte.

This seminar was organized within the framework of professional development programs for employees of the State Assets Management Agency, which are conducted by international audit and consulting companies from the "Big 4". Earlier similar seminars were held by the international consulting company "KPMG".

For reference: Deloitte is an international network of companies providing audit, tax and consulting services.

The event focused on practical issues of building an effective corporate governance function and best practices of implementing the compliance function on the example of the Agency.

Based on the experience of foreign companies the principles and order of interaction between the Board of Directors, committees and management as well as the practical necessity of increasing the maturity level of corporate governance were studied.

Taking into account that in the companies of Uzbekistan the work on introduction of compliance function is in progress, the seminar included the interactive dialogue with the employees of the Agency for the exchange of international experience on this issue.

Participants noted the effectiveness of the seminar for further work on improvement of legislative and normative legal acts in the sphere of corporate governance and compliance in Uzbekistan.