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.

  • ACGA White Paper on Corporate Governance in India (2010):

  • OECD Guidelines on Corporate Governance of State-owned Enterprises (2005):

  • 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 More >>

  • 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 More >>

  • 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 More >>

  • 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 >>

  • 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 >>

  • 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 >>

  • 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 >>

  • 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 >>

  • 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 >>

  • 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.


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