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BOARD COMMITTEE PRACTICES IN UKRAINE
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Alexander Kostyuk 
Abstract
International board practice concerning establishing committees on the board is still not spread in the Ukraine. The state obliged Ukrainian joint stock companies to establish an audit commission. But the commission is not on the supervisory board. It is not an integral part of the board. Members of the audit commission are prohibited to be members of the supervisory board at the same time. Although the audit commission reports to the supervisory board, objectives of the audit commission are narrowed only to controlling financial transactions executed by the management board. Therefore, it is worth of establishing an audit committee on the supervisory board with a broader spectrum of functions and equipped with the deepest knowledge on corporate governance mechanisms.
Keywords: Corporate Governance, Board of Directors
How to cite this paper: Kostyuk, A. N. (2005). Board committee practices in Ukraine. Corporate Ownership & Control, 3(1), 114-116. https://doi.org/10.22495/cocv3i1p10
