Frequently Asked Questions

If you have any further inquiries about the Forum, after reviewing the most frequently asked questions below, contact us at cgsecretariat@ifc.org.

What does the Forum do?
What is Corporate Governance?

As Sir Adrian Cadbury explained in a 1992 Report on Financial Aspects of Corporate Governance, “Corporate governance is the system by which companies are directed and controlled….Boards of directors are responsible for the governance of their companies. The shareholders’ role in governance is to appoint the directors and the auditors and to satisfy themselves that an appropriate governance structure is in place. The responsibilities of the board include setting the company’s strategic aims, providing the leadership to put them into effect, supervising the management of the business and reporting to shareholders on their stewardship. The board’s actions are subject to laws, regulations and the shareholders in general meeting.”

In order for an effective relationship to be maintained between the providers of capital and company managers, high levels of trust must exist between the two groups. For sufficient levels of trust to occur, four overarching corporate governance principles need to be in place:

• Transparency: Directors must make clear to the providers of capital and other key stakeholders why every material decision has been made.
• Accountability: Directors should be held accountable for their decisions and account to key shareholders submitting themselves to appropriate scrutiny.
• Fairness: All shareholders should receive equal consideration by the directors and management with a sense of justice and avoidance of bias or vested interests.
• Responsibility: Directors should carry out their duties with honesty, probity and integrity.

Why is Corporate Governance important?
When and how was the Forum created?
Is the Forum a membership organization?
Does the Forum support or finance research on corporate governance?
Who can apply for the funding?
What is the role of the Private Sector Advisory Group (PSAG)?
Are there any internship opportunities with the Forum?
How do I learn more about the Forum? Can I sign up for the Forum's mailing list to receive updates for upcoming events and publications?

What is the best way to reference the Forum when I need to use its materials for conferences, training, etc.?