After the recent global crisis, corporate scandals
and bankruptcy in US and Europe, there is some certain
evidence on weak corporate governance, risk management and
audit system. The 2009 India Code of Corporate Governance
also revealed that during the crisis time, there are certain
weaknesses although corporate structure is fairly durable.
Hence, this paper chooses a different analytical approach and
among its aims is to give some systematic opinions.
First, it classifies limited South Asian representative corporate
governance (CG) standards into two (2) groups: India and
Malaysia latest CG principles covered in group 1 and, group
2, including corporate governance principle from Thailand
and Indonesia, so-called relative good CG group, while it uses
ACCA and OECD and ICGN principles as reference.
Second, it, through analysis, identifies differences and
advantages between above set of standards which are and
have been used as reference principles for many relevant
organizations.
Third, it establishes a selected comparative set of standards
for South Asian representative corporate governance system in
accordance to international standards.
Last but not least, this paper covers some ideas and policy
suggestions.
Keywords: corporate governance, standards, financial crisis
JEL Classification: G00, G3, G30