Expression Of Interest For Enhancing Competences Of Supervisory Board And Audit Committees In State Owned En ...

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Expression Of Interest For Croatia Enhancing Competences Of Supervisory Board And Audit Committees In State Owned Enterprises Project Description In Croatia State Owned Enterprises The Soes Continue Playing A Critical Role In The Economy Approximately 12 Of The Overall Employment 18 Of The Total Turnover And 30 Of Total Assets In Croatia However Croatian Soes Are Typically Less Profitable And More Prone To Loss Making Than Comparable Central And East European Peers Improving Corporate Governance In Soes Has Been Well Recognised As A Priority And Various Efforts Have Been Made To Effect Improvements E G Under The Improving Soes Governance In Croatia Project Which Resulted In Guidelines For The Preparation Of Medium Term Plans For Soes And Standardised Reporting Templates However The Requirements Related To The Composition And Functioning Of Soes Supervisory Boards And Audit Committees Are Very General And Are Not Supported By Clear Operational Guidance Which May Undermine Effectiveness Of These Crucial Corporate Bodies Against This Background The Croatian Authorities Have Requested Support From The European Commission The Ec Under Regulation Eu 2017 825 On The Establishment Of The Structural Reform Support Programme The Srsp Regulation To Enhance The Authorities Capacity And For An Improvement In The Framework For Supervisory Boards And Audit Committees In State Owned Enterprises In Majority Ownership Of The Central Government The Project The Project Is Funded By The European Union The Eu Via The Structural Reform Support Programme And Is To Be Implemented By Thelegal Transition The Ltt And Governance Political Affairs The Gpa Teams Of The European Bank For Reconstruction And Development The Ebrd Or The Bank In Cooperation With The European CommissionS Structural Reform Support Service The Srss Ultimately Successful Delivery Of This Project Would Lead To Improved Corporate Governance In Soes Paving The Way To Increased Profitability Better Business Processes And Increased Utilisation Of Company Resources Thus Promoting Commercialisation And Overall Economic Growth Thus The Objective Of The Project Is To Provide Outputs Which Contribute Towards An Improved Governance Framework For Supervisory Boards And Audit Committees Of Soes Enterprises In Majority Ownership Of The Central Government This Should Be Achieved I Through An Improved Framework Guidance Methodology Documents For Enhancing Composition Of Soe Supervisory Boards And Audit Committees And Improving Their Effectiveness And Ii Through Bettering The Authorities Capacity To Address Issues Of Effectiveness Within The Board And Committee The Project Includes Capacity Building Activities Workshops For The Croatian Ministry Of State Assets The Ministry Andrestructuring And Sale Center Cerp In Order To Transfer Knowledge And To Enable Them To Support Guide And Supervise The Soes In Implementing The Guidance Envisaged By The Project The Workshops Will Also Transfer Knowledge To Soes To Enable Them Applying The Proposed Guidance Assignment Description In The Context Of The Project The Bank Now Intends To Engage A Consultant The Consultant To Assist And Support The Croatian Authorities With The Implementation Of The Following Activities The Assignment 1 Producing A Recommendation Document On Improvements Of Composition And Effectiveness Of Supervisory Boards And Audit Committees In Soes 2 Producing A Guidance Document On The Effectiveness Of Soe Supervisory Boards 3 Producing A Guidance Document On The Roles And Functioning Of Soe Audit Committees Consultant Selection Procedure Single Stage Open Competitive Selection Interested Firms Or Groups Of Firms Are Invited To Submit A Technical And Financial Proposal Assignment Start Date And Duration The Assignment Is Expected To Start In Q4 2019 And Has An Estimated Overall Duration Of 15 Months Cost Estimate For The Assignment Up To Eur 142 500 Exclusive Of Vat But Including Any Costs I E Travel Translation And Interpretation Etc

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