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- 1.
- Enterprises should ensure that timely, regular, reliable and relevant information is disclosed regarding their activities, structure, financial situation and performance. This information should be disclosed for the enterprise as a whole and, where appropriate, along business lines or geographic areas. Disclosure policies of enterprises should be tailored to the nature, size and location of the enterprise, with due regard taken of costs, business confidentiality and other competitive concerns.
- 2.
- Enterprises should apply high quality standards for disclosure, accounting, and audit. Enterprises are also encouraged to apply high quality standards for non-financial information including environmental and social reporting where they exist. The standards or policies under which both financial and non-financial information are compiled and published should be reported.
- 3.
- Enterprises should disclose basic information showing their name, location, and structure, the name, address and telephone number of the parent enterprise and its main affiliates, its percentage ownership, direct and indirect in these affiliates, including shareholdings between them.
- 4.
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Enterprises should also disclose material information on:
- a)
- The financial and operating results of the company;
- b)
- Company objectives;
- c)
- Major share ownership and voting rights;
- d)
- Members of the board and key executives, and their remuneration;
- e)
- Material foreseeable risk factors;
- f)
- Material issues regarding employees and other stakeholders;
- g)
- Governance structures and policies.
- 5.
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Enterprises are encouraged to communicate additional information that could include:
- a)
- Value statements or statements of business conduct intended for public disclosure including information on the social, ethical and environmental policies of the enterprise and other codes of conduct to which the company subscribes. In addition, the date of adoption, the countries and entities to which such statements apply and its performance in relation to these statements may be communicated;
- b)
- Information on systems for managing risks and complying with laws, and on statements or codes of business conduct;
- c)
- Information on relationships with employees and other stakeholders.
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