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Compared to 60.9 percent in 2021, 60.8 percent of businesses in 2022 met the requirements for best available practices as outlined by international standards. One shareholder has decided on a plan in which shareholders, the Board of Directors, and the Centralized Internal Audit Service are all participating. Corporate governance is one of the most crucial factors in determining how competitive a firm is. It is impossible for the Company to develop without an effective structure in place to govern the interactions between the Board of Directors, the executive board, and the shareholders, as well as without investors’ confidence that the management of the Company uses their funds wisely to achieve capitalization growth. Since being approved, Aksu Exploration corporate governance has undergone annual diagnostics to guarantee compliance with the standards of best practice. The diagnostics point out flaws in the governance structure and offer suggestions for raising the standard of governance in the company. Additionally, corporate governance reform measures are put into place based on the diagnostic results to guarantee compliance with international best practices. Aksu Exploration, which places a high priority on adhering to corporate governance standards, acknowledges the significance of corporate governance. raising the capitalisation.
The Aksu Exploration corporate governance framework gives the business the ability to take wise decisions that advance long-term growth and the interests of all shareholders. Aksu Exploration adheres to national corporate governance standards, Russian business leaders’ strategies, and international best practices in its governance endeavors.
In accordance with the law, the articles of association, and the company’s regulatory papers, respect and uphold the rights provided to shareholders and investors. Give the shareholders dependable, practical means to exercise their rights and safeguard their interests. Ensure that the Aksu Exploration Board of Directors oversees all Company operations. All Aksu Exploration governance bodies must ensure fair and reasonable administration of the Company’s activity. Ensure the Company’s financial transparency by promptly disclosing accurate and complete information regarding Aksu Exploration operations.
Recognize and uphold the legal rights and interests of all parties involved; adhere to the company’s socially responsible business practices. Priorities in financial management help the company finance its production, investments, and social programs while maximizing the use of its financial resources. Aksu Exploration performed and paid all of its commitments in full and on time, including those related to works and services, supplied goods, taxes, and non-budgetary sources. The declarative (expedited) method was kept in place for VAT refunds.