The OECD Corporate Governance Committee is currently reviewing the OECD Principles of Corporate Governance to ensure their continuing high quality, relevance and usefulness. The outcome should provide policy makers, regulators and other rule-making bodies with a sound benchmark for establishing an effective corporate governance framework.
The review will be based on the 2004 version of the Principles and will operate on the basis that a high level of transparency, accountability, protection of stakeholders’ interests and board supervision is required for a well-functioning corporate governance system.
The OECD believes that these core values should be maintained and, as appropriate, strengthened to reflect experiences since 2004. The OECD has recently invited public comment on the revised draft text. A publication date for the new Principles has not yet been confirmed but is expected in first half of 2015.