Countries reform corporate governance codes

Respondents have until 22nd April to comment on a  revised corporate governance code for Mauritius. Its national committee on corporate governance said the new code, developed by a team led by governance expert Dr Chris Pierce, is comprised of eight principles forming the core of the code and each principle should be applied in the best ways that the board of directors may decide and explained in their company’s annual report.

The new code is effective for the financial year ending 2017 and should therefore be implemented from 01 July 2016, the committee said.

Meanwhile, a consultation on the revised Dutch corporate governance code has recently ended. Changes being made included more focus on long-term value creation; risk management reinforcement and a simplification on the rules on remuneration. The code is due to end into force as from the financial year beginning on or after 1 January 2017.

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