1.conferenceIn July 2017 the conference: „Independent Directors: Key Benefits and Advantages for Corporations” will take place. Independent Directors Association and the European Bank for Reconstruction and Development (EBRD) jointly organize the conference with the support of the Ministry of Economy and Sustainable Development of Georgia.
Giorgi Gakharia, Minister of Economy and Sustainable Development, Bruno Balvanera, EBRD Director for Caucasus, Moldova and Belarus and Sascha Ternes, Board Member of Independent Directors Association will open the conference. The event will be attended by the guests from the governmental  and business sector, as well as representatives of the National Bank of Georgia, EBRD and international organisations.
Independent Directors Association was established in Georgia in April 2016 to promote and support Independent Supervisory Board Members. The aim of the Association is to improve board effectiveness and contribute to better corporate governance in local enterprises. 
In May 2016 changes have taken effect in the Georgian Law on Entrepreneurs and the Law on Securities Market, introducing the legal requirement for Accountable Entities to have at least one Independent Director on its Supervisory Board.
By the legislative amendments in June 2017, the Audit Committee is the Subcommittee of the Supervisory Board and is compiled only by the members of the Supervisory Board. Furthermore, at least one member of the Audit Committee should be the independent director of the Supervisory Board.
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