OECD Guidelines for Multinational Enterprises

The OECD has published the terms of reference for the forthcoming update of its Guidelines for Multinational Enterprises: see here (pdf). For further information see here.

Ireland: Code of Practice for Corporate Governance Assessment

The National Standards Authority of Ireland and the Institute of Directors in Ireland have published a Code of Practice for Corporate Governance Assessment for Irish companies and State bodies. The purpose of the code is to provide a best practice standard for the independent evaluation of organisations' compliance with existing corporate governance codes including the OECD Corporate Governance Principles, the UK Combined Code on Corporate Governance and the Code of Practice for the Governance of State Bodies. For further information see here.

Europe: corporate governance statements and the auditors' assurance role - FEE discussion paper

The Federation of European Accountants (FEE) has published a a discussion paper concerning the auditor's assurance role in respect of corporate governance statements: see here (pdf). The paper presents, inter alia, the results of a survey carried out by the FEE during 2007/08 regarding governance codes in the Member States. The FEE found (to quote from the paper):  

.... despite the range of legal systems, institutional frameworks and traditions, there is considerable convergence across Europe in the elements of national corporate governance codes. Most of these codes are closely related to the OECD’s Principles of Corporate Governance – either by making explicit reference, or by incorporating the principles within the national code, supplemented by local rules and guidance".

UK: OECD Guidelines for Multinational Enterprises - BIS consults on review's terms of reference

The Department for Business, Innovation and Skills has published a consultation paper regarding the terms of reference for an update of the OECD Guidelines for Multinational Enterprises. The purpose of the consultation is to develop a UK position with regard to the scope of the OECD's review.

OECD: corporate governance and the financial crisis - report

The OECD has published a report titled Corporate Governance and the Financial Crisis: Conclusions and Emerging Good Practices to Enhance Implementation of the OECD Principles: see here (pdf).

The purpose of the report is to help companies and policy makers more effectively implement the OECD Principles of Corporate Governance, reflecting the Steering Group's view that the Principles continue to provide a good basis on which to address the main governance concerns that have been raised.

The report represents the third phase of the OECD Steering Group on Corporate Governance's action plan on corporate governance and the financial crisis. It builds on the report Corporate Governance Lessons from the Financial Crisis and subsequent, preliminary findings in Corporate Governance and the Financial Crisis: Key Findings and Main Messages.