The specialized committees in the management of public corporations

Abstract

The focus is on the opportunities to achieve a good management of the public corporations by setting up committees to the corporate boards. The nature of the good corporate management is highlighted, proposing three levels and specifying the place of the corporate board in this process. The necessity of establishing such committees is elucidated, presenting the main types, generated in practice. The requirements for setting up an audit committee in the public corporations in Bulgaria are introduced pursuant to the amendments of the Law on the independent financial Audit from July 2008.