Reform of Business Supervisory Institutions

The reform of institutions that supervise economic entities has been ongoing in Lithuania since 2009. Instruments of reform are aimed at reducing the burden on economic entities that can result from the performance of supervisory functions, decreasing preconditions for corruption, and ensuring that legal requirements related to supervision are not only understandable but also easily and conveniently accessible. The main purpose of this reform is to ensure that supervisory institutions become business consultants rather than punishment assessors.

Priority is given to implementing the following progressive means in supervisory institutions:

  • preparation and application of business-friendly checklists during inspections;
  • uniform telephone consulting featuring recorded consultations that are binding on the institution;
  • use of risk management systems in planning supervisory activity;
  • uniform and adequate evaluation of minor breaches of legal requirements;
  • implementation of common commencement dates;
  • evaluation of institutions' results, effectiveness, and efficiency;
  • implementation of the Declaration on the First Year of Business;

Please feel free to send your comments, complaints, or proposals related to this reform to: versloprieziura@ukmin.lt