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- Practical Guide to Corporate Governance: Experiences from the Latin American Companies Circle
‘The Practical Guide to Corporate Governance: Experiences from the Latin American Companies Circle’ highlights the challenges, priorities and tangible benefits of adopting leading corporate governance practices in the region. The publication offers a first look at Latin American Companies results during the recent period of financial crisis showing that firms recognized for better corporate governance practices suffered less damage than average listed Latin American companies. It also provides empirical research over previous years showing better operational and market results for the corporate governance-focused firms than for other Latin American companies, and also includes extensive hands-on guidance and relevant examples aimed at supporting companies’ efforts to improve their governance practices.
The publication was developed by the Latin American Companies Circle, a group of 12 Latin American firms recognized for their corporate governance leadership in the region – with the support of IFC, Organisation for Economic Cooperation and Development and the Global Corporate Governance Forum
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- Corporate Governance and Financial Crisis: Key Finding and main Messages
The financial crisis has revealed severe shortcomings in corporate governance. When most needed, they often failed to provide the checks and balances that companies need in order to cultivate sound business practices. The earlier study – Corporate Governance Lesson from the Financial Crisis’ provided a first overview of these shortcomings and the resulting challenges. A follow-up paper – ‘‘Corporate Governance and Financial Crisis: Key Finding and main Messages’, examines in more depth and generality strengths and weaknesses in key areas. The findings in the follow-up paper will provide the basis for a set of recommendations that will be issued by OECD later this year.
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- King Code of Governance for South Africa 2009 (King III)
The King III Report on Corporate Governance in South Africa and Code were released on 1 September 2009. This report developed in light of the released new Companies Act of 2008 and changes in international governance trends.
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- Ten Principles of Corporate Governance of the Luxembourg Stock Exchange
The Ten Principles of Corporate Governance of the Luxembourg Stock Exchange has recently undergone a general revision. The revised version has been validated and enforceable from 1 October 2009.
Two years following the implementation of the original corporate governance principles, the Luxembourg Stock Exchange deemed it necessary to update the principles. The main aim for revision was the adaptation of the principles to current legal practices and international business realities.
The revised version has maintained the original structure of the ten principles by continuing to rely on three sets of rules: principles (“comply”); recommendations (“comply or explain”), that is to say apply or explain if they do not apply; and finally guidelines. These revised ten principles, therefore, represent a framework of corporate governance that is highly flexible and suitable for all types of businesses operating in Luxembourg.
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- Going Concern and Liquidity Risk: Guidance for Directors of UK Companies 2009
Going Concern and Liquidity Risk: Guidance for Directors of UK Companies 2009 was published in October 2009 and is effective for the accounting periods ending on or after 31 December 2009. The Guidance is based on three principles covering - the process which directors should follow when assessing Going Concern, the period covered by the assessment and the disclosures on Going Concern and liquidity risk. The Guidance applies to all companies and in particular addresses the statement about Going Concern that must be made by directors of listed companies in their annual report and accounts. It supersedes the Guidance for Directors of Listed Companies that was issued in 1994.
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