Business Association of Georgia and International Financial Corporation Delivered Training for the Business Association Members

22 Oct '10

Business Association of Georgia and International Financial Corporation (IFC) hosted two-day training on "Risk Management and Corporate Governance" for the members of the Association on 21-22 October at Sheraton Metekhi Palace Hotel. The training, intended for mid and high level managers of companies, covered practical issues such as corporate governance, risk assessment and strategic planning, risk management, peculiarities of risk management performed by board of directors, supervisory board and high level managers. In addition, the training provided practical exercises and case studies. The presentation was opened by the BAG President, George Chirakadze, Thomas Lubeck, IFC Regional Head, Caucasus and Maxine Garvey, Senior Corporate Governance Officer.
According to the Association's President "It is important when a company takes interest in risk management in order to easily cope with a challenge by using the accumulated experience. This seminar is intended mainly for companies' general and financial directors, managers and is dedicated to corporate governance. While developing the business in the country, much attention should be paid to risk management. There are a lot of risks in the country, including financial ones. Georgia is quite a young country and we do not have much experience in risk management, thus it is important that company directors have clear picture of what to do in order to reduce financial risks".
Training was delivered by Professors specially invited from the United States, Torben Andersen and Oliviero  Roggi, who at the end of the seminar awarded the participants with relevant certificates.