Nepal : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
This report assesses Nepal's corporate governance policy framework, enforcement, and compliance practices. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in...
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| Format: | Corporate Governance Assessment (ROSC) |
| Language: | English en_US |
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Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/04/6581762/nepal-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/8443 |
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okr-10986-84432021-04-23T14:02:39Z Nepal : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment World Bank ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARDS AUDITING AUDITORS AUTHORITY AUTONOMY BANKING SYSTEM BANKS CAPITAL MARKETS CAPITALIZATION CHARTERED ACCOUNTANTS CITIZENS COMMERCIAL BANKS COMMON LAW COMPANY CONSULTATIVE PROCESS CORPORATE GOVERNANCE CORPORATION CORRUPTION COST OF CAPITAL COURT OF APPEALS DEPOSITS DISCLOSURE ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ENACTMENT ENFORCEMENT POWERS ETHICAL STANDARDS EXECUTION FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL RESULTS FINANCIAL SECTOR FIRMS FOREIGN INVESTORS GOVERNANCE INSTITUTIONS GOVERNANCE REFORM GOVERNANCE REFORMS GOVERNMENT OWNERSHIP INDIVIDUAL ACCOUNTS INSOLVENCY INSTITUTIONAL INVESTORS INSURANCE INTERNATIONAL ACCOUNTING STANDARDS JUDICIARY LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGISLATION LICENSING LIQUIDATION LISTED COMPANIES MERGERS MINISTRY OF FINANCE PENSIONS POLITICAL UNCERTAINTY PRIVATE COMPANIES PRIVATIZATION PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PUBLIC POLICY PUBLIC SECTOR REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY REQUIREMENTS RETIREMENT RULE OF LAW SAVINGS SHAREHOLDERS STATE OWNERSHIP STATE-OWNED ENTERPRISES SUBSIDIARIES TECHNICAL ASSISTANCE TRANSACTION COSTS TRANSPARENCY TRANSPARENT PROCEDURES VOTING This report assesses Nepal's corporate governance policy framework, enforcement, and compliance practices. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Nepal. Awareness of the importance of corporate governance is growing. The central bank has introduced higher corporate governance standards for banks and other financial companies as part of a wider program of financial sector reform. Accounting and auditing standards are being developed. And a number of draft laws have been prepared that if passed and implemented should deepen and accelerate the reform process. The legal framework contains large and significant gaps. Critical institutions, including the securities board and company registrar, have little resources or authority. Most importantly, political uncertainty and the current security situation have weakened the economy and delayed the passage of draft legislation. Passing the current draft legislation is the critical next step. Overall, reform should seek to enhance key institutions, better protect shareholder rights, enhance transparency, and increase the effectiveness of boards. This will require a combination of legislative change, action by regulators and the public sector, and can be aided by targeted technical assistance. 2012-06-19T17:49:13Z 2012-06-19T17:49:13Z 2005-04 http://documents.worldbank.org/curated/en/2005/04/6581762/nepal-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/8443 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Corporate Governance Assessment (ROSC) Economic & Sector Work South Asia Asia South Asia Nepal |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARDS AUDITING AUDITORS AUTHORITY AUTONOMY BANKING SYSTEM BANKS CAPITAL MARKETS CAPITALIZATION CHARTERED ACCOUNTANTS CITIZENS COMMERCIAL BANKS COMMON LAW COMPANY CONSULTATIVE PROCESS CORPORATE GOVERNANCE CORPORATION CORRUPTION COST OF CAPITAL COURT OF APPEALS DEPOSITS DISCLOSURE ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ENACTMENT ENFORCEMENT POWERS ETHICAL STANDARDS EXECUTION FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL RESULTS FINANCIAL SECTOR FIRMS FOREIGN INVESTORS GOVERNANCE INSTITUTIONS GOVERNANCE REFORM GOVERNANCE REFORMS GOVERNMENT OWNERSHIP INDIVIDUAL ACCOUNTS INSOLVENCY INSTITUTIONAL INVESTORS INSURANCE INTERNATIONAL ACCOUNTING STANDARDS JUDICIARY LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGISLATION LICENSING LIQUIDATION LISTED COMPANIES MERGERS MINISTRY OF FINANCE PENSIONS POLITICAL UNCERTAINTY PRIVATE COMPANIES PRIVATIZATION PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PUBLIC POLICY PUBLIC SECTOR REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY REQUIREMENTS RETIREMENT RULE OF LAW SAVINGS SHAREHOLDERS STATE OWNERSHIP STATE-OWNED ENTERPRISES SUBSIDIARIES TECHNICAL ASSISTANCE TRANSACTION COSTS TRANSPARENCY TRANSPARENT PROCEDURES VOTING |
| spellingShingle |
ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARDS AUDITING AUDITORS AUTHORITY AUTONOMY BANKING SYSTEM BANKS CAPITAL MARKETS CAPITALIZATION CHARTERED ACCOUNTANTS CITIZENS COMMERCIAL BANKS COMMON LAW COMPANY CONSULTATIVE PROCESS CORPORATE GOVERNANCE CORPORATION CORRUPTION COST OF CAPITAL COURT OF APPEALS DEPOSITS DISCLOSURE ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ENACTMENT ENFORCEMENT POWERS ETHICAL STANDARDS EXECUTION FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL RESULTS FINANCIAL SECTOR FIRMS FOREIGN INVESTORS GOVERNANCE INSTITUTIONS GOVERNANCE REFORM GOVERNANCE REFORMS GOVERNMENT OWNERSHIP INDIVIDUAL ACCOUNTS INSOLVENCY INSTITUTIONAL INVESTORS INSURANCE INTERNATIONAL ACCOUNTING STANDARDS JUDICIARY LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGISLATION LICENSING LIQUIDATION LISTED COMPANIES MERGERS MINISTRY OF FINANCE PENSIONS POLITICAL UNCERTAINTY PRIVATE COMPANIES PRIVATIZATION PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PUBLIC POLICY PUBLIC SECTOR REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY REQUIREMENTS RETIREMENT RULE OF LAW SAVINGS SHAREHOLDERS STATE OWNERSHIP STATE-OWNED ENTERPRISES SUBSIDIARIES TECHNICAL ASSISTANCE TRANSACTION COSTS TRANSPARENCY TRANSPARENT PROCEDURES VOTING World Bank Nepal : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment |
| geographic_facet |
South Asia Asia South Asia Nepal |
| description |
This report assesses Nepal's corporate governance policy framework, enforcement, and compliance practices. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Nepal. Awareness of the importance of corporate governance is growing. The central bank has introduced higher corporate governance standards for banks and other financial companies as part of a wider program of financial sector reform. Accounting and auditing standards are being developed. And a number of draft laws have been prepared that if passed and implemented should deepen and accelerate the reform process. The legal framework contains large and significant gaps. Critical institutions, including the securities board and company registrar, have little resources or authority. Most importantly, political uncertainty and the current security situation have weakened the economy and delayed the passage of draft legislation. Passing the current draft legislation is the critical next step. Overall, reform should seek to enhance key institutions, better protect shareholder rights, enhance transparency, and increase the effectiveness of boards. This will require a combination of legislative change, action by regulators and the public sector, and can be aided by targeted technical assistance. |
| format |
Economic & Sector Work :: Corporate Governance Assessment (ROSC) |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Nepal : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment |
| title_short |
Nepal : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment |
| title_full |
Nepal : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment |
| title_fullStr |
Nepal : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment |
| title_full_unstemmed |
Nepal : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment |
| title_sort |
nepal : report on the observance of standards and codes (rosc), corporate governance country assessment |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/04/6581762/nepal-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/8443 |
| _version_ |
1764405429034549248 |