The financial crisis has revealed severe shortcomings in corporate governance. When most needed, they often failed to provide the checks and balances that companies need in order to cultivate sound business practices. That’s the conclusion from the OECD’s latest report: Corporate Governance Lessons from the Financial Crisis.
On March 18th 2009 the OECD will meet in Paris to consult with stakeholders on its action plan which seeks to address current system weaknesses of with a focus on:
the role of corporate governance in the financial crisis
identifying the most urgent areas for reform
how OECD can improve and support implementation of agreed standards
how OECD can support national, regional and global initiatives
The invitation only meeting will draw national representatives from government, trades unions and the private sector with a view to creating a set of recommendations by the end of 2009.