On November 13 2007, USAID’s Business Environment Activity together with IFC Corporate Governance Project in Macedonia, and the Macedonian Stock Exchange promoted the Corporate Governance Manual for Macedonian Joint Stock Companies. The event took place in the hotel Holiday Inn in Skopje. Speakers on the event were: Filip Condon, Director of International Financial Corporation - Consulting services, South Europe; Patricia Rader, Director of USAID Mission in Macedonia; Nicole Virsh, Ambassador of Switzerland in the Republic of Macedonia; Ivan Shteriev, MSE Chief Executive Officer. The manual was presented to the audience by its chief editor, Olga Mihajlova Tikvarovska.

USAID Head of Mission in Macedonia, Patricia Rader, giving her speech on the Manual

The Manual is designed to guide companies through various regulatory requirements and to help investors to assess companies’ governance policies. It can also be used by issuers of securities to promote understanding of the investors’ expectations. The Manual covers issues that are relevant to shareholders and investors – from board and management composition to shareholders’ rights to information disclosure. The Manual introduces the issue of setting up internal audit committees - a practice that is currently not included in local legislation.


The Manual is aimed at increasing awareness of the importance of good corporate governance practices among Macedonian companies, and is expected to be used as a practical tool in planning and executing everyday business decision making procedures by companies’ executives. To download the Manual, please click here.

There was a high media coverage of the event

Please click here to download the media monitoring of the event.