NEPAD/HSGIC-03-2003/APRM/Guideline/OSCI 9 March 2003 A. Key Corporate Governance Objectives a. Provide an enabling environment and effective regulatory framework for economic activities. b. Ensure that corporations act as good corporate citizens with regard to human rights, social responsibility and environmental sustainability c. Promote the adoption of codes of good business ethics (eg. Cadbury and King Codes) in achieving the objectives of the organisation. d. Ensure that corporations treat all their stakeholders (shareholders, employees, communities, suppliers and customers) in a fair and just manner. e. Provide for accountability of corporations and directors. B. Standards, Indicative Criteria and Examples of Indicators 4.2 Standards a. Principles of corporate governance (OECD and Commonwealth) b. International accounting standards c. International standards on auditing d. Core principles of Effective Banking Supervision e. Core principles for Securities and Insurance Supervision and Regulations f. African Charter on Human and Peoples’ Rights g. Labour codes of the International Labour Organisation (ILO) h. Codes on industrial and environmental safety and hygiene of the World Health Organisation 4.3 Indicative Criteria a. What measures have government and corporations taken to ensure compliance with standards and codes? Page 21 of 31