Code of Corporate Governance for State Owned Enterprises

The aim of this Corporate Governance Code (Code) is to ensure SOEs operate efficiently and improve the performance of SOEs through greater accountability and transparency, improved Boardroom practices, internal controls, internal audit and risk management. The Code also addresses additional issues peculiar to the corporate governance of SOEs: specifically, the need for the Government to improve the ways in which it exercises ownership and governance functions over SOEs. The Code embodies the internationally agreed standard of corporate governance principles to encourage companies to create value through entrepreneurship, innovation and development and ensure implementation of effective control systems commensurate with the risks involved.