In September of 2002, the OECD Steering Group on Corporate Governance asked the Working Group on Privatisation and Corporate Governance of State-Owned Assets to develop a set of non binding guidelines for corporate governance of state-owned enterprises, with the view to making them a complementary instrument to the OECD Principles of Corporate Governance.
After almost two years of far-reaching consultations with SOE managers and owners, state audit bodies, parliamentarians and civil society representatives from both OECD and non OECD countries, including a call for public comments via the website, the OECD Guidelines on Corporate of State-Owned Enterprises have now been adopted by the OECD Council. These new Guidelines are also based on a comparative survey of SOE corporate governance practice in OECD countries. The Guidelines are based on and fully compatible with the Principles, but are explicitly oriented to issues that are specific to the corporate governance of SOEs. The Guidelines were adopted by the OECD in April 2005.
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