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Bookmark this page: www.oecd.org/daf/corporateaffairs/principles/text
First released in May 1999 and revised in 2004, the OECD Principles are one of the 12 key standards for international financial stability of the Financial Stability Forum (FSF) and form the basis for the corporate governance component of the Report on the Observance of Standards and Codes of the World Bank Group.
Download the Principles
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This booklet contains the official text of the 2004 revision of the Principles in many languages.
Paper copies can be ordered from the OECD Online Bookshop
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Implementing the Principles
The preamble to the OECD Principles states that they “are evolutionary in nature and should be reviewed in light of significant changes in circumstances”. It is also recognises that, “To remain competitive in a changing world, corporations must innovate and adapt their corporate governance practices so that they can meet new demands and grasp new opportunities”.
In 2006, OECD published the Methodology for Assessing Implementation of the OECD Principles on Corporate Governance which underpins the dialogue on implementation of the Principles in a jurisdiction and provides a framework for policy discussions.
In 2009, OECD launched an ambitious action plan to address weaknesses in corporate governance that are related to the financial crisis. It aims to develop a set of recommendations for improvements in priority areas, such as board practices, implementation of risk-management, governance of the remuneration process and the exercise of shareholder rights. The recommendations will also address how the implementation of already-agreed standards, such as the Principles, can be improved.
See also: Applying the OECD Principles to current policy issues
2004 Revision of the Principles
In 2002, OECD Ministers called for a review of the OECD Principles of Corporate Governance. After more than a year of extensive and open consultations, including an opportunity for public comment via the website, the revised Principles were released in April 2004.
The work on reviewing the Principles was supported by a survey (paper copies) of corporate governance developments in OECD countries, which was carried out in 2002-2003, and a similar synthesis of experiences gained from the Regional Corporate Governance Roundtables.
During the review process, the OECD Steering Group on Corporate Governance, charged with the assessment, asked for public comment on the draft text of the revised Principles. Comments were received from more than 70 individuals, national and international organisations, including, amongst others, the International Corporate Governance Network, Standard and Poors, the International Federation of Accountants, Institutes of Internal Auditors.
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