International Finance Corporation2016-08-032016-08-032016-04https://hdl.handle.net/10986/24777In May 2015, the IFC Corporate Governance Group called together 40 experts in the field and members of the IFC Corporate Governance Private Sector Advisory Group. These participants explored key changes in international corporate governance standards and codes of best practice in the wake of the recent global financial crisis and how these changes have helped draw corporate attention to sustainability issues. The group found that many issues that became evident regarding banks in the financial crisis, and led to changes in the governance of banks, also have flowed through into broader corporate governance developments. This publication arises from the issues and information from these discussions. Specifically, part A discusses developments from global or regional groups involved in corporate governance. Part B addresses developments in corporate governance practice, and part C looks at developments in corporate governance codes and standards.en-USCC BY-NC-ND 3.0 IGORISK MANAGEMENT SYSTEMSDECISION-MAKING PROCESSESPUBLIC OFFICIALSFINANCIAL SERVICESCAPITAL MARKETSREGULATORY FRAMEWORKDISCLOSURE OF INFORMATIONINTERNAL AUDIT FUNCTIONINTERNATIONAL CORPORATE GOVERNANCEOPERATIONAL EFFICIENCYRISK MANAGEMENT PRACTICESSHAREHOLDER RIGHTSINTERESTFINANCIAL RESULTSINSTITUTIONAL INVESTORSDECISION-MAKING PROCESSLACK OF CLARITYPUBLIC SECTORREGULATORY REGIMEGOVERNMENTGOVERNANCE PRACTICENATIONSEXCHANGESTOCK MARKETRESPONSIBILITYTRANSPARENCY INITIATIVERESOURCE ALLOCATIONGOOD GOVERNANCEREGULATORFORMAL STANDARDSFINANCIAL STATEMENTSSHAREHOLDER PROTECTIONCONFEDERATIONNATIONAL GOVERNMENTSAUTHORITIESCORRUPTIONSUSTAINABLE DEVELOPMENTAUDIT STRATEGYNATIONAL LEVELDISCLOSUREINDEPENDENCEINFORMATION SYSTEMSOVERSIGHTREGULATORY AUTHORITYGOVERNANCE DIMENSIONMINISTERSAUDITSCORPORATE GOVERNANCE STANDARDSJURISDICTIONSINTERNATIONAL FINANCEPUBLIC POLICYSTATESSTATE OWNERSHIPSOCIAL RISKSEXECUTIONMARKET DEVELOPMENTSECURITIES MARKETAUTHORITYOWNERSHIP STRUCTURESGOVERNANCE MONITORINGCOMPLEX RISKREGULATORY SYSTEMGLOBAL INVESTORFINANCIAL INSTITUTIONSLEGISLATIONREPRESENTATIVESFINANCIAL SYSTEMLEGAL FRAMEWORKALLOCATION OF RESOURCESINVESTORSHUMAN CAPITALLEGISLATIVE PROCESSESREGULATORY FRAMEWORKSCORPORATE RESPONSIBILITYACCOUNTABILITYMEMBER STATESTRANSPARENCYMARKET CAPITALIZATIONFINANCIAL CRISISCOMPROMISEFUTURESTATE-OWNED ENTERPRISESCORPORATE GOVERNANCE SYSTEMANTI-CORRUPTIONGOVERNANCE PRACTICESFINANCIAL PERFORMANCELEGAL FORMINTERNAL CONTROLSDECISION-MAKINGDECISION MAKINGREPRESENTATIONSTRONG CORPORATE GOVERNANCEREGULATIONSECURITIESREGULATORY REGIMESOUTPUTCONSTITUTIONSHAREHOLDER ENGAGEMENTGOVERNANCESHAREHOLDERSENFORCEMENTTAXATIONREGULATORY POLICYCONSENSUSSTATEINVESTORSECURITIES EXCHANGECITIZENSHIPLEGISLATIVE BODIESREGIONSSTOCK EXCHANGEGOVERNANCE FAILURESHUMAN RESOURCESSHARECOALITIONSINTERNAL AUDITINVESTMENT CLIMATEFINANCIAL INFORMATIONFEDERATIONFINANCIAL MARKETSFINANCE CORPORATIONINTERNAL CONTROLIDEOLOGIESBANKINGRISK MANAGEMENT PROCESSVOTINGREGULATORSLAWRISK MANAGEMENTCOMMUNICATIONSHAREHOLDERLEGISLATORSAUDITSTRONG GOVERNANCEFINANCIAL SYSTEMSFINANCIAL SECTORGOVERNMENTSRISK MANAGEMENT COMMITTEECORPORATE GOVERNANCEReportInternational Finance Corporation10.1596/24777