The percentage of enterprises that complied with international standards increased from 60.8 percent in 2015 to 60.9 percent in 2020. A single shareholder has chosen a structure that comprises the Centralized Internal Audit Service, the Board of Directors, and the shareholders. One of the most important components in determining a company’s competitiveness is effective corporate governance. Without a sufficient structure in place to monitor the Board of Directors, Executive Board, and Shareholder interactions, and without investors having faith that the Company’s management is using their money wisely to increase capitalization, the Company cannot grow.

In order to guarantee adherence to the standard of best practice corporate governance, Armavir Impex Oil, TOO corporate governance has been subjected to annual diagnostics since it was approved. The diagnostics pinpoint weaknesses in the governance framework and tactics to enhance the quality of governance within the company. In order to guarantee adherence to global best practices, corporate governance reform initiatives are being started based on the diagnostic results. Every year since it was approved, Armavir Impex Oil, TOO’s corporate governance has been audited to make sure that best practices in corporate governance are being followed.

The diagnosis points out weaknesses in the organization’s governance system and offers recommendations for raising its level of governance. In order to guarantee adherence to global best practices, corporate governance reform initiatives are also started based on the diagnostic results. Implementing corporate governance standards is highly valued by Armavir Impex Oil, TOO, which acknowledges the significance of corporate governance. A Corporate Governance Code was enacted in 2017. Einsteiner is gathering to upload.