Ukrenergo will create compliance office under OECD standards

Ukrenergo will create a compliance office under OECD standards (the Organization for Economic Cooperation and Development), company head Vsevolod Kovalchuk has said after a meeting with the representatives of international financial organizations and independent public organizations.

"We want the OECD principles of corporate governance, which at the international level are the standard for the effective, transparent and responsible functioning of enterprises with state participation, to be extended to all areas of the company's activities. Therefore our next step will be the establishment of a compliance office in Ukrenergo, which will monitor compliance with internal policies and procedures of the organization, developed in accordance with the legislation of Ukraine and taking into account the leading international practices, first of all, those of the OECD," he said.

According to him, an open tender for the selection of an authorized person on the issues of internal documents compliance (a compliance officer) will be announced. The selection, development and approval of all necessary policies will be completed by June 1, 2018.