The IFLR Guide to Corporate Governance 2004

  • Editorial

  • Introduction

    Why investors should be careful who they trust Gone are the days when investments could be made and forgotten about. Paul Lee, manager of shareholder engagement at Hermes Investment Management, laments that, even the safest investments now need careful monitoring

  • Introduction

    US sets global trends behind governance shake-up Corporate governance reform in the US has launched a new era of legislative activity worldwide. Simon Wong of McKinsey & Company picks out the recurrent themes from country to country

  • Australia

    What the James Hardie inquiry means for Australian corporates A special commission of inquiry into the asbestos-related compensation issues faced by the James Hardie Group highlights a need for corporate law reform. Dean Jordan and John Elliott of Clayton Utz explain

  • Austria

    Voluntary code could make directors liable The Austrian Code of Corporate Governance has been widely accepted in Austria, perhaps increasing the standard of care required of a corporation’s management, say Albert Birkner and Clemens Hasenauer of Cerha Hempel Spiegelfeld Hlawati

  • Cayman Islands

    Offshore vehicles face unrelenting scrutiny Martin Livingston of Maples and Calder warns that the US approach to corporate governance might not be right for everyone

  • Finland

    Finland revamps competition and governance regimes Finland is overhauling its Competition Act and has released new corporate governance recommendations. Jan Waselius of Waselius & Wist outlines the changes

  • Germany

    Recent developments in German corporate governance German companies have been inundated with corporate reforms in 2004. Ralph Wollburg of Freshfields Bruckhaus Deringer summarizes the changes

  • Indonesia

    An overview of directors' liability in Indonesia Directors of new companies need to ensure that they're not held liable for actions carried out in the company's formation that they had no say over. By Dezi Kirana and Mufti Habriansyah of Soemadipradja & Taher

  • Latvia

    How companies are managed in Latvia Raymond Slaidins and Mikus Buls of Klavins & Slaidins outline the roles directors and supervisory boards play in the Latvian corporate structure

  • The Netherlands

    Sweeping changes to Dutch governance regime Hans Sachse and Aravind Ramanna of Boekel De Nerée N.V. provide an overview of the Dutch corporate governance structure, outline the Tabaksblat committee proposals and discuss legislative initiatives in the field of corporate governance

  • Norway

    Norway's new initiative: the corporate governance code The Oslo Stock Exchange and various other Norwegian bodies have proposed a corporate governance code, due for release in December. Erling Christiansen of Advokatfirmaet Schj¸dt tracks its progress

  • Portugal

    Portuguese companies adopt best-practice recommendations Maria Adelaide Moura of AM Moura & Associados discusses the progress and growing importance of corporate governance in Portugal

  • South Korea

    Korea aims for world-class corporate governance Kyung Taek Jung and Hwa Soo Chung of Kim & Chang Law Offices outline recent trends in Korean corporate governance focusing on the duties and liabilities of directors under Korean law

  • Sweden

    Proposal for Swedish governance code released Dick Lundqvist and Niclas Rockborn of Gernandt & Danielsson Advokatbyrå outline the details of the new proposal for a Swedish corporate governance code

  • Switzerland

    The progress of the regulatory approach Rather than merely suggesting that companies comply with corporate governance principles, Switzerland is now ordering them to do so. Michel Haymann of Haymann & Baldi explains

  • Turkey

    Best practice on the agenda in Turkey Family-owned businesses make up 99% of the Turkish private sector. But even small companies need to consider corporate governance practices, says Ümit Hergüner of Hergüner Bilgen Özeke

  • United Kingdom

    Nobody expects . . . the EU Accounts Modernization Directive Charles Mayo of Simmons & Simmons answers some of the questions raised by the UK's implementation of the EU Accounts Modernization Directive

  • United States

    Compliance, risk management and internal controls Robert Bostrom of Winston & Strawn discusses the evolving roles and responsibilities of boards of directors and audit committees