Reports on the Observance of Standards and Codes - Corporate Governance Country Assessment INDIA
Corporate governance assessments are prepared within the framework of the joint World Bank/IMF Reports on the Observance of Standards and Codes (ROSC). This initiative is an important element of the response of the international community to the financial crises of the late 1990s, which has emphasized the role of international standards - such as the OECD Principles of Corporate Governance - in strengthening the international financial architecture.
The ROSC corporate governance assessment cover corporate governance issues as they apply to listed firms. They assess the formal institutional framework underlying corporate governance of a country and the prevailing practices and enforcement against an internationally recognized benchmark, the OECD principles. While publication of the country ROSC is voluntary, ROSC assessments once approved are disseminated into the public arena through the ROSC website of the World Bank.
The first Report on the Observance of Standards and Codes (ROSC) Corporate Governance Assessment for India, was completed in July 2000. An update of the earlier ROSC on Corporate Governance for India was completed in June 2004 and has been published on the World Bank ROSC website.