Graph 3: Sub-Saharan economies with strong investor protection since 2005 Note: The scale is of 0-10, with 0 being the least protection and 10 the highest protection Source: Doing Business 2011. 251. Notwithstanding the progress recorded in terms of investor protection, the issue of directors’ responsibilities and defending minority shareholders still needs to be given special attention in the action plan. The principle recommended here by the APR Panel is one of the most basic principles of Corporate Governance, and the adoption and implementation of a Corporate Governance Code by enterprises will result in such treatment being given. 252. Significant progress has been made in observance of the recommendation by the APR Panel on the need for dissemination of the new Commercial Code. In fact, this new Commercial Code is already being implemented in the country. Objective 5: To ensure the accountability of corporations, directors and employees The APR Panel recommended that parameters of accountability be defined in the corporations, starting with the functioning of the boards – to include appointments to the boards through selection, mix of gender/skills balance on the boards, board/ management relationships, operational and risk management plans, reporting and communication policies (i); that local professional institutions be created, e.g., Institute of Personnel Management; Institute of Accountants (ii); that a set of rules and principles be adopted in which a critical mass of professionals is trained (iii); and that Article 43 of the Commercial Code, on the publication of financial records, be amended (iv). 253. In that which concerns the recommendation by The APR Panel relating to the definition of accountability parameters in corporations, there is no concrete evidence of this yet, although this is practice for multinational companies or companies owned by multinationals whose parent institutions are based abroad. This matter may be settled when the Corporate Governance Code is put into practice, particularly regarding the points relating to the appointment of management bodies and on their responsibilities. 85