A new joint programme between Investor Protection Association (IPA) and Ernst & Young aims at developing and supporting the role of the independent non-executive director on the Board.

Key objectives of the Programme:

Develop and promote best practice for independent non-executive directors - using the results of Russian surveys and Ernst & Young experience in other countries, to develop a guide for directors to ensure understanding of the role and contribution of independent non-executive directors.

Develop a set of standards and practices for independent directors.
Create effective business communication for independent non-executive directors and those responsible for their appointment - this will be followed up with a series of conferences, roundtable discussions and briefings providing opportunities for the independent directors both to hear from those with special expertise in this field and to take part in informed discussion with their peers.

Develop information support - the bulletin will form a significant component and regular feature of the Independent Director Programme. Each edition will address different issues of concern and importance to independent non-executive directors and will be based to some extent on subjects being addressed in Surveys and Independent Director events. Contributors will include experienced practitioners, academics, experts and presenters at Independent Director events.

To support and maintain professional growth of independent non-executive directors - training courses, workshops, joint initiatives and programs with international organizations.

To raise public awareness (government authorities, business and social communities) of corporate governance issues, and highlight a positive role and contribution of independent directors in the cause of promoting corporate governance improvements.
The Independent Director Programme provides a unique service that focuses primarily on maximising the contribution of independent non-executive directors to the boards of all Russian organisations.

Implementation

IPA and Ernst & Young will immediately begin the implementation of this joint programme, working along the following main directions:

Within one year a separate noncommercial organisation will be set up - Independent Directors Association. It is expected that Association will move towards a self-funding status via its members after its launch and as it grows and accepts more members.

If you have any suggestions regarding this Project, you may submit them by E-Mail.