UNCTAD guidance on corporate governance disclosures

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08 Nov 2006

The United Nations Conference on Trade and Development (UNCTAD) has published Guidance on Good Practices in Corporate Governance Disclosure.

This 52-page publication is an updated version of UNCTAD's 2002 report Transparency and Disclosure Requirements for Corporate Governance. UNCTAD's goal in developing this disclosure guidance is "achieving better corporate transparency and accountability in order to facilitate investment flows and mobilise financial resources for economic development" in UN member states. It is aimed particularly at regulators and companies in developing countries and transition economies. The suggested disclosures are divided between financial and non-financial. For financial disclosures the guidance states: "The International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board provide a widely recognised benchmark in this respect." The guide recommends a range of non-financial disclosures in the following areas:

Non-financial corporate governance disclosures:

  • Company Objectives
  • Ownership and Shareholder Rights
  • Changes in Control and Transactions Involving Significant Assets
  • Governance Structures and Policies
  • Members of the Board and Key Executives
  • Material Issues Regarding Stakeholders, and Environmental and Social Stewardship
  • Material Foreseeable Risk Factors
  • Independence of External Auditors
  • Internal Audit Function
We are grateful to UNCTAD for permission to post this guide.

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