Every year, your Chairperson signs a statement saying how well you comply.

This tells you what it should say — before it is signed, published, and left on your website for three years.

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What the Code actually asks of you

The Code of Corporate Governance for State Owned Enterprises has been in force since 1 May 2019. It applies to every SOE in which the State holds 50% or more, other than companies listed on the exchange.

It works on a comply-or-explain basis. That is a lighter obligation than it sounds — you are not required to meet every provision. You are required to know which ones you miss, and to say why in writing.

That statement is not internal. Under the Code it is prepared annually, attached to the Annual Report, signed by the Chairperson of the Board, and published in the corporate governance section of your website, where the last three years must remain available.

So the question is not whether anyone will read it. The question is whether you know what it says before your Chairperson puts a name to it.

A structured way to find out

This is a self-assessment covering 237 provisions drawn from two instruments:

The Code of Corporate Governance for SOEs — board composition and independence, the separation of Chair and CEO, audit committee construction, internal audit, risk management, related party disclosure, website and annual report obligations, stakeholder policy.
The Procurement Procedures and Guidelines for SOEs — committee formation, threshold discipline, tendering method selection, bid opening, evaluation and award, contract management, grievance handling.

You answer each provision as fully complied, partially complied, not complied, not applicable, or — the option the Code itself provides — not complied but explained.

You can assess one instrument or both. Procurement questions adjust to whether your annual procurement sits below or above MVR 100 million, because the thresholds that govern your tendering methods change at that line.

Set aside about an hour for one instrument, two for both. Your progress saves as you go, so you can stop and come back.

A report you can take to the board

At the end you get a compliance report, not a score out of ten.

A compliance index and a maturity band, so you know roughly where you stand.
Your critical departures, ranked — the provisions where non-compliance is most consequential, each carrying its clause reference back to the source.
Your explanation rate — of the provisions you do not meet, how many carry a documented reason. This is the number that matters most under comply-or-explain, and it is usually the number people have never measured.
A section-by-section ledger, so remediation can be assigned rather than merely discussed.

Save it as a PDF for the board pack, or export the underlying data if you want to track movement year on year.

We do not receive your answers. We cannot.

This matters enough to be precise about.

The assessment runs entirely inside your browser. There is no account, no login, no submission and no server waiting to receive anything. Your answers are held on your own device and nowhere else. The report is generated on your machine, from data that never left it.

We have not built a system that promises discretion. We have built one that has nothing to be discreet about — there is no database of responses, because there is no transmission to fill one.

You do not have to take that on trust. Load the page, then disconnect from the internet. The assessment and the report will work exactly as before. Nothing that needs a network is happening.

The page carries no analytics, no tracking pixel and no third-party code of any kind. Even its typefaces are served from this site rather than fetched from elsewhere. The server instructs your browser to block outbound transmission from the page outright, so the guarantee is enforced by the browser and not merely asserted by us.

Worth reading: because nothing is stored anywhere but your device, we cannot recover your assessment if you clear your browser data. Export your results when you finish.

Being clear about the limits

This is a self-assessment tool. It is useful, and it is not a substitute for several things it might be mistaken for.

It is not an official PCB or Ministry of Finance service. It is not endorsed by, affiliated with, or produced on behalf of the Privatisation and Corporatization Board. It is an independent reading of published instruments.
It is not an audit, and it produces no assurance opinion. It records what you tell it. An assessment is only as honest as the person completing it.
It is not legal advice. Where the Code conflicts with legislation specific to your company, that legislation prevails — the Code says so itself.
It does not file anything for you. Your Corporate Governance Statement is still yours to draft, review and sign.

Used properly, it tells you where to look. It does not tell you that you are safe.

Start where you are

Most SOEs already comply with far more of the Code than they can currently evidence. The gap is usually documentation, not conduct. An hour spent here will usually tell you which of the two you are dealing with.

Begin the self-assessment →

Free, anonymous, and no one will know you took it — including us.

Questions

Is this an official PCB tool?: No. It is an independent tool built from the published Code and Guidelines. It is not endorsed by or affiliated with the PCB or the Ministry of Finance.
Do you see my answers?: No. Nothing is transmitted. Everything stays in your browser, on your device.
How long does it take?: About an hour for one instrument, two for both. Progress saves automatically, so you can complete it across several sittings on the same device and browser.
Can I do just the procurement half?: Yes. Choose either instrument, or both, at the start.
Can we use the output as our Corporate Governance Statement?: Treat it as the working paper, not the finished statement. It will tell you which provisions need an explanation. Drafting that explanation, and standing behind it, remains a matter for your board and company secretary.
We are not an SOE. Can we still use it?: Yes. Nothing prevents it, and much of the Code reflects general good practice. Bear in mind the provisions are written for state ownership and some will not map neatly onto a private company.
Is our data stored anywhere?: Only in your own browser’s local storage, on your own device. Clearing your browsing data deletes it permanently and we cannot restore it.