Page 88 - SBL Integrated Workbook STUDENT 2018

Chapter 8

4.2 The International Corporate Governance Network (ICGN).

The ICGN represents investors, companies, financial intermediaries, academics and
other parties interested in the development of global corporate governance practices.

Content of the ICGN principles:

 corporate objective – shareholder returns

 disclosure and transparency

 audit

 shareholders’ ownership, responsibilities, voting rights and remedies

 corporate boards

 corporate remuneration policies

 corporate citizenship, stakeholder relations and the ethical conduct of business

 corporate governance implementation.

Limitations:

 All codes are voluntary and are not legally enforceable unless enshrined in
statute by individual countries.

 Local differences in company ownership models may mean parts of the codes
are not applicable.

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