BICG

FAQ


Question: What is BICG?

Answer: BICG stands for the Baltic Institute of Corporate Governance. It was started in 2009 and is a regional NGO, working to promote corporate governance. BICG is an internationally recognized driver of best practice corporate governance development in the Baltic region.


Question: What is Corporate Governance?

Answer: Corporate Governance is a set of processes, customs, policies and laws describing the way a company is governed. Corporate Governance framework in a company regulates the relations between shareholders, board of directors and management.


Question: Why is Corporate Governance important?

Answer: Corporate Governance ensures that companies are run as efficiently as possible in the interests of their shareholders/owners. This in turn promotes greater confidence in the companies on the capital markets and creates better conditions for the supply of risk capital. Good corporate governance practices lead to better companies and, in turn, better societies.


Question: Why does BICG promote Corporate Governance in the Baltics?

Answer: To bridge the gap between current and best practices. Because it is a valuable and needed part of Baltic development.


Question: Who owns BICG?

Answer: The Institute is a non-profit NGO, controlled by its corporate and individual members, through the Annual General Meeting.


Question: How is the Institute financed?

Answer: The Institute is open with its finances and on our website you will find full annual reports with detailed financial disclosure. Our financial statements are audited by KPMG annually. The Institute is funded by membership fees and by revenues generated by its educational activities.


Question: What are the main activities of the BICG?

Answer: Development and execution of educational programs, conferences, business delegations, as well as development of regional and local governance policy and research programs, publications.


Question: What kind of educational activity does the BICG provide?

Answer: Education for professional board members and chairperson’s education.


Question: How can members of the BICG get involved in governing state or privately owned companies?

Answer: Companies seeking to improve their governance or create a better Board of Directors can ask BICG to recommend experienced and relevant board members from the database of graduates. This database contains graduates of the BICG education for board members and chairpersons exclusively. BICG does not charge graduates for entering the database, nor does it charge companies for access.


Question: How many members does the Institute have?

Answer: The number of members is constantly changing, but generally consists of over 30 corporate members and 80 or more individual members.

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