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Corporate Governance:
International
The
NFCG has an online library of principles, codes, rules and regulations
related to corporate governance. These relate to both the Indian as
well as the international context. In addition, the online library will
also contain original research papers commissioned by the foundation.
The library resources are freely accessible.
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ACGA White Paper on Corporate Governance in India (2010):
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OECD Guidelines
on Corporate Governance
of State-owned
Enterprises (2005):
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OECD
Principles of Corporate Governance (2004):
The Principles are intended to assist
governments in their efforts to evaluate and improve the legal,
institutional and regulatory framework for corporate governance in
their countries, and to provide guidance and suggestions for stock
exchanges, investors, corporations, and other parties that have a role
in the process of developing good corporate governance. The Principles
focus on publicly traded companies, both financial and
non-financial… Read
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ASX
Corporate Governance Council Report (2003):
On 15 August 2002, the ASX Corporate
Governance Council was formed in Australia with the objective of
developing and delivering an industry-wide, supportable and supported
framework for corporate governance. In March 2003, the ASX Corporate
Governance Council released “Principles of Good Corporate
Governance and Best Practice Recommendations”. Compliance
with the recommendations was not mandatory, except for the
recommendations dealing with Audit Committees, but from 2004 listed
entities are required to report in their annual report on whether they
have complied during the year the subject of the report, or if they
have not, the reasons why not... Read
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Higgs
Report: Review of the role and effectiveness of non-executive directors
(2003):
The report reviewed the role and effectiveness of non-executive
directors in the UK. The Review further developed the UK framework of
corporate governance, which commenced with the publication of the
Cadbury report in 1992 and was taken forward by the Greenbury, Hampel
and Turnbull reports…Read
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The
Combined Code on Corporate Governance (2003):
This UK based code supersedes and
replaces the Combined Code issued by the Hampel Committee on Corporate
Governance in June 1998. It is derived from a review of the role and
effectiveness of non-executive directors by Derek Higgs and a review of
audit committees by a group led by Sir Robert Smith. Read More >>
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Sarbanes
Oaxley Act (2002):
Following
the corporate governance scandals in the US, the Sarbanes Oaxley Act
was enacted which brought about fundamental changes in virtually every
area of corporate governance and particularly in auditor independence,
conflict of interest, corporate responsibility and enhanced financial
disclosures. Read More
>>
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King
Committee On Corporate Governance (2002):
The King Report on Corporate Governance
for South Africa (the “King Report 2002”) has been
developed as an initiative of the Institute of Directors in Southern
Africa. It represents a revision and update of the King Report first
published in 1994, in an attempt to keep standards of corporate
governance in South Africa in step with those in the rest of the world.
All companies listed on the Johannesburg Stock Exchange have to comply
with the provisions of the Report. Read
More >>
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Blue
Ribbon Report (1999):
Blue Ribbon Committee was set up by the
Securities and Exchange Commission (SEC), US, in 1998. In February
1999, the Committee published the Report on Improving the Effectiveness
of Corporate Audit Committees (the Blue Ribbon Report). The
recommendations of the Blue Ribbon Committee were adopted and declared
to be mandatory by the NYSE, the American Stock Exchange (Amex), Nasdaq
and the American Institute of Certified Public Accountants (AICPA). The
recommendations are not mandatory for foreign issuers: these are
subject to their own national laws. Read
More >>
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CalPERS'
Global Governance Principles (1999):
With the goal of encouraging a
continual debate on best governance practices globally, in 1997
CalPERS' Board adopted a set of Global Governance Principles. In late
1999, the CalPERS Investment Committee analyzed other newer global
governance principles and with the goal of supporting a single set of
global governance principles, the Investment Committee revised CalPERS'
Global Governance Principles to parallel the International Corporate
Governance Network's statement on Global Governance Principles. The
International Corporate Governance Network (ICGN) was founded with the
objective to facilitate international dialogue and thereby helping
companies to compete more effectively. The ICGN welcomed the OECD
Principles as a remarkable convergence on corporate governance common
ground among diverse interests, practices and cultures. While the ICGN
considered the OECD Principles the necessary bedrock of good corporate
governance, it held that amplifications were required to give them
sufficient force. Read More
>>
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Hampel
Report (1998):
The Hampel Committee was constituted in
UK in 1995. The task of this committee was to consolidate the
recommendations of the Cadbury Report in 1992 (focusing on financial
reporting) and the Greenbury Report in 1995 (focusing on directors'
remuneration), and prepare a 'Combined Code' on corporate governance.
The Code, published in 1998, was attached to the listing rules of the
stock exchange with the requirement that in order to be listed,
companies must either declare their adherence to its provisions or
explain any deviation from them. Read
More >>
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Cadbury
Report-The Financial Aspects of Corporate Governance (1992):
The Cadbury Committee was set up in May
1991 by the Financial Reporting Council, the London Stock Exchange and
the accountancy profession to address the financial aspects of
corporate governance. The Committee’s objective was to help
to raise the standards of corporate governance and the level of
confidence in financial reporting and auditing. The report reviewed the
structure and responsibilities of boards of directors, rights and
responsibilities of shareholders and the role of auditors. It also
addressed a number of recommendations to the accountancy profession.
Read More >>
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