Ahe Organisation for Economic Cooperation and Development recently updated and invited comment on its principles of corporate governance.

The principles, originally published in 1999, are non-binding guidelines meant to serve as a reference point for policy makers.

Johnston

The new draft is well-timed, considering recent governance meltdowns at companies overseas, including Italy's Parmalat and the Netherlands' Royal Ahold. "Recent events have highlighted a number of areas in which the Principles can appropriately be strengthened," said OECD Secretary-General Donald J. Johnston.

Back in early November, "Global Proxy Watch" publisher Stephen Davis told us that the new OECD draft would be "a key influence in national codes," as the World Bank prepares progress reports on countries based on how well they apply OECD guidance.

The draft principles are available below:

  Download Draft OECD Principles Of Corporate Governance