Contents

1. Key government sites
2. Regulatory agencies and stock exchanges
3. Accounting and auditing sites
4. Sovereign wealth funds
5. Professional organisations
6. Media
7. Miscellaneous

1. Key government sites

Ministry of Finance: www.mof.gov.cn
The Chinese site holds a large amount of timely data relating to macroeconomic policies, national budgets, economic regulations, tax rules, accounting rules, and so on. It also contains economic and financial research reports and links to international organizations, forums and media. However, the English section is inaccessible.

People's Bank of China (PBC): www.pbc.gov.cn
China's central bank and the overall regulator of the banking system. Its Chinese website is rich in news, statistics, speeches, regulations and policies. The English version has improved in recent years, but still lacks the comprehensiveness of the Chinese site, especially in the timely release of monetary policies, credit and loan policies, and financial stability policies.

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2. Regulatory agencies & stock exchanges

China Banking Regulatory Commission (CBRC): www.cbrc.gov.cn
Formed in March 2003 to supervise China's financial industry, including banking institutions, asset management companies, trust and investment companies, and other depository financial institutions. Both the Chinese website and the English version are well-designed and easy to navigate, including up-to-date announcements and public notices, speeches, rules and regulations, and statistics.

China Securities Regulatory Commission (CSRC): www.csrc.gov.cn
China's principal securities regulator. The Chinese website is up-to-date and rich in information about CSRC announcements, policies, statistics, laws and regulations. It has a functional securities market information disclosure system and a friendly user online-service system. The English version contains nearly as much current information as the Chinese version. It also has a special column focusing on China's reform in corporate governance, such as the share structure reform. The English version does not have a user service system, but any difficulties navigating the site or finding information can be overcome by using either the site map or the excellent search engine.

China Insurance Regulatory Commission (CIRC): www.circ.gov.cn
The principal regulator for China’s insurance industry. Its Chinese website contains rich information about insurance news, policies, regulations, statistics and an online-service system. There is no English version.

Shanghai Stock Exchange (SSE): www.sse.com.cn
China's main stock exchange. A non-profit making membership institution directly governed by the CSRC. Its Chinese website is timely, friendly and functional in providing comprehensive information for investors. Its English version is less complex, but quick and easy for foreign users to navigate. It contains useful information on B-share quotes and QFII trading under its “Market Data” section, and has a handy “SSE News” page.

Shenzhen Stock Exchange (SZSE): www.szse.cn
China's second stock exchange. The Chinese and English versions of its website are similar in structure and contain timely and rich information on disclosure, market data, statistics, and rules and regulations. The English site, however, has considerably less information.

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3. Accounting and auditing sites

The Chinese Institute of Certified Public Accountants (CICPA): www.cicpa.org.cn
The institution responsible for the registration of certified public accountants and accounting firms in China, as well as their supervision and regulation. While the site seems extensive, it is, unfortunately, only in Chinese.

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4. Sovereign wealth funds

China Investment Corporation (CIC): www.china-inv.cn
CIC is one of China’s main sovereign wealth funds. It was established in September 2007 with US$200 billion in registered capital. While it is a wholly state-owned company and accountable to the State Council, it declares that it maintains a strict commercial orientation and is driven by purely economic and financial interests. Its Chinese and English websites have identical structures and information, including sections on corporate governance, investment policy and news releases. However, both are only skeleton sites.

National Council for Social Security Fund (SSF): www.ssf.gov.cn
The Chinese website of SSF provides news and relevant laws and regulations governing SSF. It also introduces the capital raising, investment, operational, risk management and financial reports of the Social Security Fund. The English website contains less information and a simpler introduction to the SSF, its governing regulations and outdated financial reports. (Note: The English website is not always accessible.)

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5. Professional organisations

Securities Association of China: www.sac.net.cn
This is the website of the representative body for China’s securities industry. The English language section is threadbare but gives an outline of the organisation and its organisational structure. However, the laws and regulations and download sections are empty.

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6. Media

Caijing Magazine: www.caijing.com.cn
The leading media voice for business and financial issues in China. Its Chinese website contains comprehensive information on China’s economic reforms, developments and policy changes, as well as major events in the financial markets. It also offers a broad international perspective through first-hand reporting on international political and economic issues. In addition, Caijing provides original analysis and opinions by commentators from both China and abroad. Its English version, with the same well-structured frame as Chinese version, includes translated magazine articles as well as daily briefs and features. However, some of these translations are issued days later than the Chinese news. And all the original analysis and comments are not translated into English.

China Securities Journal: www.cs.com.cn
This is the online version of the China Securities Journal (CSJ), the daily newspaper specializing in financial and securities news in China. CSJ is an official medium through which the CBRC, CSRC and CIRC issue authoritative stories. Its Chinese website has several sections covering the economy, industry, markets, finance, trade and companies. It also has a feature section containing analysis on hot topics from government officials, market professionals and academic experts (which are widely reprinted and cited). Its English version has a similar structure and it provides most of the same content, although usually one or two days later. There is no feature section in the English version.

21st Century Business Herald: www.21cbh.com
This is a professional economy and finance medium providing 24-hour real-time information on both China and abroad. It is notable for digging out the stories behind the news and for publishing insightful analysis pieces from special contributors. Its Chinese website has sections named “Dialogue” and “Feature”, which gather the opinions and comments of noted experts. However, it has no English version.

Shanghai Securities News: www.cnstock.com
A newspaper covering the financial markets in China, especially Shanghai. Its Chinese version has fairly comprehensive information, but there is no English version.

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7. Miscellaneous

China Centre for Economic Research (CCER): en.ccer.edu.cn
A very useful website that contains a lot of information relating China’s economic and financial position and developments. The site has been updated and seems a little unstable. It is possible to switch between the old and the new websites; it is easier to find publications and papers on the old website and has a better search engine.

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Contents

1. Key government sites
2. Regulatory agencies & stock exchanges
3. Accounting and auditing sites
4. Activist organisations

1. Key government sites

Department of Finance (DOF): www.dof.gov.ph
A straightforward, well-designed website that describes the administration and functions of the financial regulator of the Philippines. And while the design is good, and the site offers unique links such as "Ask DOF", which allows visitors to contact the ministry and its various departments with any questions on the economy or the ministry's policies, the site is erratic. The statistics and data provided on the country's economy is out of date, but not all; you have to surf the site in order to find out what is current. Then there are sections which just do not work: the site search; site map, which merely takes you back to the homepage; the log-in section for the E-Bidding and DOF Forum; and the quick links section. A promising site, but ultimately disappointing.

Bangko Sentral ng Pilipinas (BSP): www.bsp.gov.ph
The central bank of the Philippines. Like most central bank websites, the BSP site is well-designed and easy-to-navigate, offering a wide range of economic and financial data. There are useful sections on economic and financial statistics, resources, including speeches, publications and regulations, and a comprehensive archives page, although not all the links are active. Additionally, a useful "Links" section to other Filipino and international sites of relevance is provided.

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2. Regulatory agencies and stock exchanges

Securities and Exchange Commission (SEC): www.sec.gov.ph
The chief securities regulator in the Philippines. Although the SEC's website contains a great deal of information on SEC operations, rules and regulations, enforcement, corporate governance, and other matters relating to corporate governance, its design and organisation could be greatly improved.

The Philippine Stock Exchange (PSE): www.pse.org.ph
A well-designed site, recently upgraded, that contains a lot of information relating to the PSE, its participants and listed companies. Sections covering listing requirements, IPOs, current market information and reports are available. Company reports and announcements are easy to access--the one drawback being they are not archived for long.

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3. Accounting and auditing sites

Philippines Institute for Certified Public Accountants (PICPA): www.picpa.com.ph
The PICPA website is confusing to navigate and lacks both a site map and a search engine, yet it contains a lot of valuable data relating to accounting and financial reporting. Sections of interest include announcements, a technical library and download data, all of which offer useful information. The news and announcements section includes the code of ethics and PICPA’s position on the International Accounting Standards.

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4. Activist organisations

Transparent Accountable Governance (TAG): www.tag.org.ph
The TAG project was established by both government and private-sector agencies to "summarize how, why and to what degree corruption exists in Philippine society", and in the process document the initiatives taken by the government and private-sector to combat corruption. The website is straightforward and easy to navigate. Data on various segments of Philippine society involved in combating corruption, research and case studies is available, including the Philippine Code of Corporate Governance. Use the efficient search engine to find information that does not at first glance seem available.

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Contents

1. Key government sites
2. Regulatory agencies and stock exchanges
3. Pension and investment funds
4. Accounting and auditing sites
5. Shareholder organisations
6. Professional organisations
7. Miscellaneous

1. Key government sites

Ministry of Finance (Treasury Malaysia): www.treasury.gov.my
The Ministry's site is easy to traverse but not always guaranteed to give you the information you are looking for, e.g. the Ministry's profile offers only the faces of past and present Ministers of Finance, Secretary Generals of the Treasury, and the Ministry Chart. It is a site that is more geared to the Treasury department, which provides visitors an overview of its mission and objectives. The website carries little current information, while circulars, reports, and most of the speeches are in Bahasa. There is no search engine, except an interactive one for Treasury circulars. A site that needs updating.

Bank Negara Malaysia (BNM): www.bnm.gov.my
Malaysia’s central bank. An up-to-date website that provides economic and financial data on Malaysia’s economy, currency and financial system. The site includes searchable sections on press releases, speeches, statistical reports and publications, which are mostly for sale. While the statistics and hyperlinks pages are excellent, the site does have holes: not all the sections, such as regulations, are readily available from the home page unless you open the sitemap; and they are not always complete.

Malaysian Anti-Corruption Commission (MACC): www.sprm.gov.my
MACC was established with the passing of the Malaysian Anti-Corruption Act 2008, and officially began operations on January 1, 2009 replacing the Anti-Corruption Agency (ACA) Malaysia. The links at the bottom of the English website, such as academic references, does not seem to work. There is information about the agency, how and when it was formed, and its activities throughout the year. There is also a chart showing the arrest statistics for the year and a database of offenders.

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2. Regulatory agencies and stock exchanges

Securities Commission (SC): sc.com.my
Malaysia’s primary securities regulator. A fast, clean, up-to-date and easy-to-navigate site. It provides a lot of information on the operations of the SC, a useful resources section with press releases, speeches, publications and statistics and data, and an excellent search engine. In addition, there is a comprehensive section on corporate governance, which gives an overview of corporate governance in the country and SC's involvement. A unique feature under the enforcement sub-section is the "wanted" list of people SC is either looking to charge, need assistance from, or as a witness. The site also includes a section on training and education.

Suruhanjaya Syarikat Malaysia, Companies Commission of Malaysia (SSM): www.ssm.gov.my
The website covers a great deal of useful information including the company director's and the company secretary's codes of ethics, which can be found in the guidelines section; and a section on the corporate law reform committee, established in 2003 to review the current legislative policies on corporate law and propose amendments. However, no search engine is provided except a "Name Search" to locate registered companies in Malaysia; and some of the icons provided are broken.

Bursa Malaysia (KLSE): www.klse.com
Bursa Malaysia is the new name for the Kuala Lumpur Stock Exchange. A comprehensive site with detailed, up-to-date information, including data on listed companies, trading and settlement, listing and market participants. There is also an education section that details the modules for the mandatory training courses for directors of Malaysian listed companies.

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3. Pension and investment funds

Employees Provident Fund (EPF): www.kwsp.gov.my
EPF is a savings scheme for Malaysians' retirement operated by the Malaysian Government. The website is simple and easy to navigate, and while the information focuses on EPF, its functions and organisation, the homepage does carry news items on fund management and an archive section. The search engine is good, and it is easier to find information by using it.

Permodalan Nasional Berhad (PNB): www.pnb.com.my
PNB is the investment organisation set up by the Government to promote share ownership in the corporate sector among the Bumiputera. The website is brochureware, providing visitors with information about the PNB, its history, functions, organisation, and the courses that it offers to the public.

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3. Accounting and Auditing sites

Malaysian Accounting Standards Board (MASB): www.masb.org.my
The MASB, together with the Financial Reporting Foundation (FRF), are responsible for the new framework for financial reporting in Malaysia. The MASB is responsible for developing and setting accounting and financial reporting standards in Malaysia, while FRF is responsible for overseeing MASB’s performance, financial and funding arrangement, and as an initial source of views for the MASB on proposed standards and pronouncements. A well-organised website that is easy to navigate, and provides a wealth of information on the organisation and operation of the MASB and FRF, current accounting standards and principles, and ones that are under review. One small problem is that the search engine, which is fairly efficient, can only be accessed from the homepage.

Malaysian Institute of Certified Public Accountants (MICPA): www.micpa.com.my
This website is focused primarily on members with restricted access to public users. In addition to describing the organisation and operation of MICPA, the site includes sections with news and events, and a links page, but not all the links are active. A publications section, providing detailed accounting and financial reporting standards is available, but only for sale.

Malaysian Institute of Accountants (MIA): www.mia.org.my
An up-to-date site, with a good resources centre section containing speeches, circulars and research papers. There are also useful sections covering continuing professional education, and technical issues relating to accounting, auditing taxation and corporate insolvency law. However, it is not easy to navigate, certain sections do not allow you to return to the homepage unless you repeatedly hit the back button key.

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4. Shareholder organisations

Minority Shareholder Watchdog Group (MSWG): www.mswg.org.my
MSWG, established in 2000 after a recommendation by the Ministry of Finance in 1999, is a public company that aims to "enhance shareholder activism and protect minority interests". The website hosts an array of information but it is not always easy to find it, and currently the search engine is under development. While a site map exists, it does not make the task any easier. A link to Malaysia's Code of Corporate Governance is available, but it is found under "Our History". An "In the News" archive section provides visitors with a list of MSWG's "abstracts of market surveys, research papers, and magazine and newspaper articles of interest to minority shareholders" but only the title of the article, where to find it, and when it was published is available. This website has just been launched and is obviously still a work-in-progress.

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5. Professional organisations

Malaysian Bar Council (MBC): www.malaysianbar.org.my
The MBC website is well designed and is an excellent resource for information on the legal profession and issues in Malaysia. In addition to a detailed section on the functions and organisation of the MBC itself, the website provides updates to legislation, numerous articles to promote public awareness on their rights and remedies in given situations, and links to the websites of the other bar associations.

The Malaysian Institute of Chartered Secretaries and Administrators (MICSA): www.maicsa.org
The MICSA website is easy to navigate and provides information relating to the organisation as well as industry information and data. The site offers extensive resources including links to corporate governance sites both within and outside Malaysia, technical and research sites and updates, training and education programmes, library information and publications.

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6. Miscellaneous

Malaysian Institute of Corporate Governance (MICG): www.micg.net
MICG was established in 1998 by the High Level Finance Committee on Corporate Governance. The site affords a thorough overview of MICG, its work, research, publications and events it is involved in. However, other than one downloadable research paper on corporate governance in Malaysia, there was little else pertaining to continuing research, although all MICG's publications on CG are available for sale online. An interesting section is the page on CG codes and best practices from around the world, which are downloadable. In addition, the "Links" page is quite comprehensive.

Federation of Publicly Listed Companies (FPLC): www.fplc.com.my
FPLC is an organisation that aims to develop Malaysian companies towards global standards; it was responsible for introducing a Code of Ethics for public listed companies in 1989. Its website is well designed and easy to navigate, but the corporate section is devoid of useful material, but the members' portal aims to provide information on corporate governance, corporate social responsibility as well as recent salient updates on accounting, legal and regulatory issues affecting Malaysian listed companies.

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Contents

1. Key government sites
2. Regulatory agencies and stock exchanges
3. Pension and investment funds
4. Accounting and auditing sites
5. Professional organisations
6. Business organisations
7. Miscellaneous

1. Key government sites

Ministry of Finance: finmin.nic.in
A comprehensive and well-designed website that provides extensive information relating to the administration and functions of the Ministry of Finance as well as statistics and data covering India’s economic and financial position. There are also sections offering surveys and reports for download, a brief glossary of financial terms, and detailed guidelines for investing in India. A list of useful links to related sites is also provided.

Reserve Bank of India (RBI): rbi.org.in
The central bank of India. The RBI website incorporates a vast amount of economic and financial information on the Indian economy and its financial markets, including a database dedicated to Indian economic statistics and publications.

Central Vigilance Commission (CVC): cvc.nic.in
CVC monitors the Central Government agencies to help prevent corruption. It is not an investigative body, rather investigation is done through the Central Bureau of Investigation (CBI) or the Departmental Chief Vigilance Officers. It only investigates public officials, and is not responsible for the private sector. The website provides information on the operations of the CVC as well as resources, including archives, references, reports, and links.

Central Bureau of Investigation (CBI): cbi.gov.in
The Central Bureau of Investigation is tasked with investigating a range of offences from terrorism and hijacking to frauds in the banking and securities sector. A revamped site provides information on CBI’s history, jurisdiction and powers, judgements, their network, press releases and an archive section dating back to 2004.

Serious Fraud Investigation Office (SFIO): www.sfio.nic.in
The Serious Fraud Investigation Office is a multi-disciplinary organisation under the Ministry of Corporate Affairs that detects and prosecutes or recommends for prosecution white-collar crimes and frauds. The organisation has experts in accountancy, forensic auditing, law, information technology, investigation, company law, capital market and taxation. The site, while clean, fails to divulge useful information. It provides the number of cases it has filed against various companies but does not mention when the cases were filed or any other details.

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2. Regulatory agencies & stock exchanges

Ministry of Corporate Affairs (MCA): www.mca.gov.in
MCA is the government body responsible for the general regulation of Indian companies. The website has seen a facelift in the past few months and now offers number of new resources to reflect its e-governance initiative, which it commenced last year, such as accessing public documents. However, to have full functionality, one needs to register with the Ministry. The website now also makes it easy to have access to the Company Law and other rules under its charter.

Securities and Exchange Board of India (SEBI): www.sebi.gov.in
The principal regulator for India’s securities markets. The website is generally well laid out, easy to navigate, and contains a wealth of data and resources relating to the workings of SEBI and India’s securities markets. Resources include press releases, working papers, speeches, and statistics. One major weakness is that rules and regulations are organised chronologically (with the most recent at the top) rather than thematically.

The Bombay Stock Exchange (BSE): www.bseindia.com
India's main stock exchange. The website offers some limited research and statistical data as well as publications. A disappointing site compared to that of the National Stock Exchange.

The National Stock Exchange of India (NSE): www.nseindia.com
India’s second stock exchange. The website is far superior to that of the Mumbai Stock Exchange. Well laid out and easy to navigate, the site contains live feeds for world and domestic markets as well as extensive data and research resources.

Corp Filing and Dissemination System: www.corpfiling.co.in
This is the common filing and dissemination portal for all companies listed on the BSE and the NSE. While its stated aim is to provide "a single interface to the investors to keep track of the latest filings of all the listed companies in India irrespective of the Stock Exchange", it falls short of that. The site fails to break down the announcements into meaningful categories, only providing sections for insider trading; SAST; shareholding patterns; results; and announcements. The problem being that announcements provides a plethora of information from issuance of warrants to AGM notices, none of which are satisfactorily classified and easy to find without wading through a mountain of other information.

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3. Pension and investment funds

Employees' Provident Fund Organisation, India (EPFO): www.epfindia.com
The mandatory pension scheme for the private sector is managed by the Employees’ Provident Fund Organisation (EPFO). It was set up in 1952 and covers 180 specified economic sectors that employ 20 or more people as well as co-operative societies that employ 50 or more people. The management of its assets is outsourced to a select number of fund managers. The website is professional looking, however, it is cumbersome to traverse, with a number of the pages having external links, forcing you to open new pages.

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4. Accounting and auditing sites

The Institute of Chartered Accountants of India (ICAI): www.icai.org
A statutory body for regulating the chartered accounting profession in India. A well-organised website that incorporates a considerable amount of research and data, including Indian accounting and auditing standards as well as publications and various working papers.

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5. Professional organisations

The Institute of Company Secretaries of India (ICSI): www.icsi.edu
The ICSI website provides extensive information relating to the administration and regulation of companies in India, but is extremely slow to upload. There is a section that details corporate governance best practices for Indian companies as well as information relating to takeovers and mergers. The site also offers relevant publications for download.

Institute of Directors (IOD): www.iodonline.com
The association of company directors. The site is rather messy, sparse on information, and while it offers links to related sites, quite a few are broken. The Institute’s monthly newsletter is online, as well as the Centre for Corporate Governance’s quarterly journal.

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6. Business organisations

Confederation of Indian Industries (CII): www.ciionline.org
CII, founded more than 115 years ago, is an industry association that aims to promote the sustainable development of Indian industry. In 1998, CII produced India's first code of best practice on corporate governance, titled "Desirable Corporate Governance: A Code". The CII website is detailed and is most easily navigated via the sitemap. The site provides information relating to the training services provided by CII as well as considerable economic and trade data on the Indian economy.

Federation of Indian Chambers of Commerce & Industry (FICCI): www.ficci.com
FICCI was established in 1927 as a non-government, not-for-profit membership driven organisation. It has direct membership from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 83,000 companies from regional chambers of commerce. Through its 400 professionals, FICCI is active in 39 sectors of the economy and does in-depth research and policy prescriptions. It also has joint business councils with 79 countries. Its site is useful, clean and easy to navigate. All their publications and studies are available online.

The Associated Chambers of Commerce and Industry of India (Assocham): www.assocham.org
Assocham is a representative body for Indian businesses that was founded in 1920. The website provides data on recent and forthcoming events, including seminars on corporate governance and disclosure requirements, relevant news and publications as well as details of Assocham’s consultancy and training programmes.

National Association of Software and Service Companies (NASSCOM): www.nasscom.in
Founded in 1988, NASSCOM is the premier trade body and the chamber of commerce of the IT-BPO industries in India. NASSCOM is a global trade body with more than 1200 members, which include both Indian and multinational companies that have a presence in the country. NASSCOM’s membership base constitutes over 95% of the industry revenues in India and employs over 2.24m professionals. A not-for-profit organization, NASSCOM was set up to facilitate business and trade in software and services and to encourage advancement of research in software technology. The website is well-laid out, easy to navigate and contains information on the organisation's initiatives and publications.

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7. Miscellaneous

National Foundation for Corporate Governance (NFCG): www.nfcgindia.org
NFCG was founded by the Ministry of Corporate Affairs in partnership with CII, ICSI and ICAI to promote better corporate governance practices in India. The website is rather bare, with research seemingly having stopped in 2008. The main initiatives that NFCG seems to engage in organising events with its stakeholders.

CRISIL: www.crisilonline.com
India’s leading ratings, financial news, risk and policy advisory company. The CRISIL website is packed with valuable and searchable data on India’s listed companies, including financial performance, shareholding analyses, and details of shareholders’ rights.

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Contents

1. Key government sites
2. Regulatory agencies and stock exchanges
3. Accounting and auditing sites
4. Activist and educational organisations
5. Professional organisations

1. Key government sites

Bank Indonesia (BI): www.bi.go.id
Bank Indonesia is Indonesia’s central bank. An excellent site that has improved steadily. Clean, easy to navigate, and full of information and data--in English as well as Bahasa--on Indonesia's economy and financial system. Although there is not a great deal on the corporate governance of banks, look under "Regulations" for some relevant new rules (eg, in January and October 2006). Probably the best financial website in Indonesia.

The National Committee on Governance (NCG): www.governance-indonesia.com
In 1999 the Indonesian government formed the National Committee on Corporate Governance (NCCG), one of whose first tasks was the drafting of the "Indonesian Code of Good Corporate Governance", published in 2001. In 2004, the Committee's name was changed to The National Committee on Governance (Komite Nasional Kebijakan Governance), the aim being to revitalize the former NCCG and broaden its scope to cover public as well as corporate governance. NCG has a bold ambition: to "transform Indonesia into a country with one of the best applications of good governance" and to be among the top quartile of countries in international surveys of good governance by 2009. Taking its website as a measure of progress, however, the NCG has not been as active as its objectives would suggest. The site aims to be useful (eg, it has some helpful links, speeches and documents), yet remains quite light on content.

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2. Regulatory agencies and stock exchanges

Capital Market Supervisory Agency (BAPEPAM): www.bapepam.go.id
BAPEPAM is the main securities regulator in Indonesia. Although information-rich and easy to navigate, this site regrettably contains no English version. It does provide translations of some important new documents, however, including Indonesia's new code on corporate governance (published October 2006), the agency's annual report, and a new assessment of the country's accounting and auditing standards. (Note: This is a new site for Bapepam. Its old site can still be accessed and has an English side.)

Indonesia Stock Exchange (IDX): www.idx.co.id
IDX became Indonesia's sole stock exchange in 2007 when the Surabaya Stock Exchange merged with the Jakarta Stock Exchange (JSX), which then changed its name to the Indonesia Stock Exchange. The English version of the website is easy to navigate, providing issuer announcements, IDX rules and a link to BAPEPAM, the securities regulator. However, the issuer announcements seems to only date back to 2008, even with companies that have been listed since 1993.

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3. Accounting and Auditing Sites

The Indonesian Institute of Accountants (IAI): www.iaiglobal.or.id
The Indonesian Institute of Accountants, established in 1957, is the main professional organisation for accountants in Indonesia. IAI has participated in discussions on corporate governance and was a member of the committee that drafted the Indonesian Code of Good Corporate Governance in 2001. Although this website contains a large amount of information and is easy to use, it is almost entirely in Bahasa.

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4. Activist and educational organisations

The Indonesian Society for Transparency (MTI): www.transparansi.or.id
MTI is a civil organization that aims to report on and eradicate corruption in Indonesia. This well-organised and busy website includes a section on public governance, but all its information is in Bahasa.

The Indonesian Institute for Corporate Governance (IICG): www.iicg.org
IICG is an independent organisation formed in June 2000 that undertakes research and educational work on corporate governance. One of its main projects has been the "Corporate Governance Perception Index", an annual assessment and corporate award scheme instituted in 2001. The site is now a member only site and while information is still available for visitors, it is in Bahasa.

Forum for Corporate Governance in Indonesia (FCGI): www.fcgi.or.id
FCGI, formed in February 2000 by five professional and business associations in Indonesia, describes its mission as: "Stimulating good corporate governance, sustainability and corporate responsibility in Indonesia". Currently, the FCGI has 10 members since 5 others associations have joined the FCGI since 2000.

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5. Professional organisations

Indonesian Institute for Corporate Directorship (IICD): www.iicd.or.id
The Institute is a non-profit organisation established in 2000 to help directors and commissioners implement corporate governance reforms. Its main activity is the organisation of director training courses. This site is largely brochureware and does not contain additional resources.

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Contents

1. Key government sites
2. Regulatory agencies & stock exchanges
3. Accounting and auditing sites
4. Activist organisations
5. Miscellaneous

1. Key government sites

Ministry of Finance (MOFTI): www.mof.gov.tw
A well-designed website that provides comprehensive information on the administration and functions of the Ministry of Finance, which wears many hats. Besides being the country's financial regulator, MOFTI is responsible for customs, insurance, banking and securities and futures administration. Statistics and data on all the different areas falling under the purview of MOFTI is available as well as laws and regulations, important measures and economic promotion measures. There is, however, no archives section as such, although old press releases and annual reports can be found in the press releases and publications sections respectively. A list of useful links to related sites is also provided.

Central Bank of China (CBC): www.cbc.gov.tw
Taiwan’s central bank. The site is clearly laid out and easy to navigate. It contains a significant amount of up-to-date data concerning the Taiwanese economy and financial system, including details of banking and monetary management, laws and regulations and currency and foreign exchange management. The statistics section is extensive and the page defining key financial terms used on the site is extremely useful.

Ministry of Justice (MoJ): www.moj.gov.tw
Taiwan’s de facto anti-corruption body, although the website contains limited information on anti-corruption activities. There is a useful section dedicated to the laws and regulations database however.

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2. Regulatory agencies & stock exchanges

Financial Supervisory Commission (FSC): www.fsc.gov.tw
The FSC is the single regulator of the banking, securities and insurance sectors. The website has recently been redesigned and is easy to navigate. Some material in English (eg, regulatory announcements) are quite out of date. Although one has to search for them, there are some interesting articles on corporate governance, which can be found using the search engine.

Taiwan Stock Exchange Corporation (TWSE): www.twse.com.tw
The site contains a lot of data on prices, trading and market statistics but the drawback is the lack of information on listed companies. Although a financial info on listed companies quarterly section is given, all the links are broken. And the link to the "companies information" is likewise broken, but by clicking on this link, empos.twse.com.tw you can access it. In addition, there is a comprehensive section on corporate governance in Taiwan under "about the tsec".

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3. Accounting and auditing sites

Accounting Research and Development Foundation (ARDF): www.ardf.org.tw The ARDF is responsible for issuing and updating accounting and financial reporting standards in Taiwan. While the site is exclusively in Chinese, it provides an English version of the statements of financial accounting standards and a comparison between Taiwan accounting standards and international financial reporting standards.

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4. Activist organisations

Corporate Governance Association (CGA): www.cga.org.tw
CGA, established by professionals, academics and business people, is Taiwan's leading CG group. It organises conferences, and conducts research. The website, while it does not have English translations of the Association's work, it does offer a comprehensive English version of the group's history, mission and principles.

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5. Miscellaneous

Taiwan Securities Association (TSA): www.csa.org.tw
The TSA aims to enhance investor protection and assist in the promotion of a better-regulated market. The site is basic, and slightly confusing, not least because some of the English words make no sense: it is best navigated via the site map. However, useful links are available for relevant laws and regulations, and corporate governance in Taiwan. While a useful links section to related domestic and international organisations is provided, not all of them are active.

Securities and Futures Institute (SFI): www.sfi.org.tw
SFI aims to be a library and information centre on securities and futures, a research centre for promoting a better regulated securities and futures market, and a testing centre for providing testing and qualification recognition facilities. The English site is poorly designed and confusing, with neither a sitemap or a search engine to help. However, a useful section on corporate governance codes and issues, including downloadable files, is available. In addition, a link to a database on legal issues relating to the local securities market is given.

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Contents

1. Key government sites
2. Regulatory agencies & stock exchanges
3. Government sites (miscellaneous)
4. Accounting and auditing sites
5. Professional organisations

1. Key government sites

Ministry of Finance (MOF): ww2.mof.go.th
The Ministry has many roles besides being the country's financial regulator: it oversees "Government property, operations of Government monopolies, revenue-generating enterprises which can be legally operated only by the Government and not under the purview of other Government bodies, as well as other organizations to which the Government has contractual obligations". In addition, it provides loan guarantees for Government agencies, financial institutions, and state enterprises. The website is clean, fairly up-to-date, with a site map and search engine but seems sparse in relation to other MOF sites in the region. Statistics on the country's financial and economic performance are available, along with speeches, press releases, news articles and an "Economic Links" section to other relevant sites, although some of the links are broken.

Bank of Thailand (BOT): www.bot.or.th
BOT is Thailand's central bank and the regulator of the banking sector. This site is clean, up-to-date and informative. The site map and index are excellent resources for sifting through the data available on the site, from current versions of banking legislation, BOT notices to a good archive of speeches and press releases. Unfortunately, the governance-related material on this site is not extensive or easy to find, partly because of a poor search engine. A stronger search facility would be welcomed.

The Office of the National Counter Corruption Commission (NCCC): www.nacc.go.th
Thailand’s anti-corruption agency. A basic website that does little more than describe the operations and functions of the NCCC as well as the constitutional backing for its activities. Unlike its Hong Kong counterpart, the Independent Commission Against Corruption, the site fails to provide information on its past cases or allow complaints to be made online.

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2. Regulatory agencies and stock exchanges

The Securities and Exchange Commission of Thailand (SEC): www.sec.or.th
The SEC is the main regulator of the Thai securities market. The website, on the surface, seems well-designed and easy to use but you can lose yourself in its maze. The site contains a vast amount of data from SEC laws/regulations and an asset management page to a good governance section. However, not everything is easily accessible and navigating the site is easier through the site map. A search engine is available but only on the homepage. Another disappointing feature is that many sections, including the "Good Governance" section are only available in Thai. The links do not correspond to the icons, such as "enforcement news" under "laws/regulations/enforcement"; it takes a few steps to find the correct page. However, the site offers a good catalogue of listed companies' financial reports plus an "Enforcement News" section that lists companies required to revise their financial statements or having criminal charges brought against them by the SEC. The site needs tweaking.

The Stock Exchange of Thailand (SET): www.set.or.th/en
SET is the national stock exchange of Thailand. Its website is information-rich, but lacks coherence; the site map is the only way to "find" your way around the site. It contains extensive documentation on securities regulation, including all the key corporate-governance codes and rules, and a helpful "News Room" that provides updated information on new exchange policies, corporate actions and enforcement measures against individual listed companies. An obvious omission that undermines the value of the site is the lack of a search engine, but the most glaring weakness is the difficulty of finding specific documents on corporate governance: most of which are in a sub-sub-section called "Free Downloads" (under "Investor Education/Information Services"). In fact, you can find information on corporate governance under most of the other sections: market operations; and rules and regulations. It would be useful if there was a "focus section" centralising all this information, and a corner on SET's own Corporate Governance Center.

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3. Government sites (miscellaneous)

National Corporate Governance Committee (NCGC): www.cgthailand.org
The NCGC was established in 2002 and is chaired by the prime minister or an assigned deputy prime minister. It is responsible for stimulating corporate governance initiatives in Thailand through policies, measures and schemes, including appointing sub-committees and working groups to analyse and assist any CG operations. The site is cleanly designed and contains useful information on the different governance rating systems and awards in Thailand, and a detailed self-assessment template for companies. In addition, it houses a section on SET's Corporate Governance Center. While a search engine is lacking, the site map proves to be useful.

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4. Accounting and auditing sites

Federation of Accounting Professions (FAP): www.fap.or.th
Thailand’s only institution for the accounting profession. Unfortunately, there is no English version of this website.

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5. Professional organisations

Thai Institute of Directors (IOD): www.thai-iod.com
The organisation was founded in 1999 with the support of the Bank of Thailand, the Stock Exchange of Thailand, the Capital Market Development Fund Foundation and the World Bank, with the aim of improving the professional knowledge and skills of corporate directors through educational programmes, networking meetings and seminars. The website that contains information relating to corporate governance and boardroom ethics as well as director training and seminars. While the site contains a lot of information on corporate governance and boardroom ethics, not all of it can be accessed since much of it is in Thai or for members only, although the summaries of the seminars are in English and available for download. Given the lack of a search engine or a site map, traversing the site is cumbersome.

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Contents

1. Key government sites
2. Regulatory agencies and stock exchanges
3. Government sites (miscellaneous)
4. Accounting and auditing sites
5. Activist organisations
6. Miscellaneous

1. Key government sites

Ministry of Strategy and Finance (MOSF): english.mosf.go.kr
An easy-to-navigate website that provides comprehensive information on the administration and functions of the Ministry of Finance as well as statistics and data covering Korea’s economic and financial position. A list of useful links to related sites is also provided.

The Bank of Korea (BOK): www.bok.or.kr
The central bank of Korea. The website is well designed and packed with extensive economic and financial data relating to the Korean financial system and currency. It also includes downloadable publications incorporating more detailed statistics and data.

Anti-Corruption & Civil Rights Commission (ACRC): www.acrc.go.kr
ACRC was launched on February 29, 2008 by the integration of the Ombudsman of Korea, the Korea Independent Commission against Corruption and the Administrative Appeals Commission. The new ACRC has three functions: handling and addressing public complaints; preventing and deterring corruption in the public sector; and protecting people's rights from illegal and unfair administrative practices through the administrative appeals system. The website is an easy-to-navigate site but the archives section does not work.

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2. Regulatory agencies & stock exchanges

Financial Supervisory Service (FSS): english.fss.or.kr
Korea’s principal financial regulator. The site is well laid out, easy to navigate and includes sections explaining in detail the operations of the FSS as well as sections covering rules and regulations, publications, news, and events. However, the website does not contain as extensive a database of corporate governance-related information as one might expect from an institution of such significance.

Korea Fair Trade Commission (FTC): www.ftc.go.kr
Korea’s agency for enacting and enforcing competition laws in the market. The website is easy to navigate and includes details on the operations and scope of the FTC. The site contains useful data on Korean M&A rules as well as the code of conduct for corporate compliance. There are also sections covering policy statements and press releases.

Korea Stock Exchange (KSE): www.krx.co.kr
A well-designed website that incorporates useful information and statistics on market trading and listed companies.

KOSDAQ: www.kosdaqca.or.kr
Korea’s second securities market. The English KOSDAQ website is sparse and lacks any meaningful information.

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3. Government sites (miscellaneous)

National Pension Corporation (NPC): www.npc.or.kr
NPC is a non-profit special corporation established by the Korean government to administer the National Pension Scheme. The NPC website provides details of its functions and operations as well as information relating to the National Pension Scheme, the National Pension Act and the Social Security Agreement.

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4. Accounting and auditing sites

The Korean Institute of Certified Public Accountants (KICPA): www.kicpa.or.kr
A basic site that provides little more than a brief overview of KICPA's functions, a list of its members and overseas affiliations, and information relating to continuing professional education.

Korean Accounting Standards Board (KASB): www.kasb.or.kr
The website is basic and principally provides details of the various Korean accounting standards. Much of the information on the site is to be dated. There is a small library section that includes some good background material.

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5. Activist organisations

People’s Solidarity for Participatory Democracy (PSPD): peoplepower21.org
PSPD is a civil organisation that promotes civil and human rights in Korea in a variety of ways. PSPD has been involved in many corporate governance issues in Korea, acting in the capacity of a minority shareholder activist. The website is well laid out and easy to navigate. Areas of interest include the archive section that includes details of PSPD’s past shareholder activist campaigns as well as providing details on Korea’s anti-corruption laws. There is also an extensive and searchable section of press releases.

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6. Miscellaneous

Korea Corporate Governance Service (KGCS): www.cgs.or.kr
The Korea Corporate Governance Service (KCGS), a non-profit organisation established in 2002, is meant to strengthen corporate governance practices in Korean listed companies by "enhancing market discipline". The website is easy to navigate, and gives an overview of KCGS and its activities, including its programme of rating and annually awarding the top 10 best governed companies. The announcements and corporate governance news sections are current, but the resources section is out of date, unlike its Korean counterpart. However, a useful "Links" section to both domestic and overseas sites of relevance is available. In addition, one can download Korea's "Code of Best Practices for Corporate Governance", which is available under the Corporate Governance Award's "Code of Best Practice" section.

Hills Governance Center at Yonsei: www.hillsgovernance.org
The Hills Governance Center at Yonsei was established in September 2003, under the joint auspices of both the Hills Program on Governance of the Center for Strategic and International Studies (CSIS) and the World Bank. The Center has worked towards sound governance and anti-corruption practices in Korea, hosting international conferences, conducting international projects such as National Integrity System Korea Report and publishing case studies on corporate governance.

Center for Good Corporate Governance (CGCG): cginfo.co.kr
CGCG is Korea's first independent research institute specialising in the area of corporate governance. The website is rather sparse, and does not much in the way of information or archived data. It does, however, have a link to its CGInfo page, where you are able to view the different types of reports CGCG publishes and read some samples.

Asian Institute of Corporate Governance (AICG): www.aicg.org
AICG is part of the business school of Korea University and is a primary research institute for corporate goverrnance in Korea. AICG also runs a corporate governance course for directors of Korean companies. The AICG website is small but well laid out. The site provides some useful research papers on corporate governance issues and progress in Korea.

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Contents

1. Key government sites
2. Regulatory agencies and stock exchanges
3. Government sites (miscellaneous)
4. Accounting and auditing sites
5. Activist organisations
6. Professional organisations
7. Miscellaneous

1. Key government sites

Ministry of Finance Singapore (MOF): www.mof.gov.sg
The Ministry describes its role as "enhancing the well-being and development of Singapore through finance". Its website is well-designed and contains a range of information on budgetary and taxation issues, plus laws under public consultation. However, the site lacks a separate section on corporate governance--an odd ommission given the MOF's central role in formulating policy and legislation in this area in recent years. To track this history down, one needs to use the search engine provided.

Monetary Authority of Singapore (MAS): www.mas.gov.sg
MAS is the central bank of Singapore as well as the country’s principal securities, insurance and financial regulator. Its website, as expected, contains a large amount of information on Singapore's economy and financial system. Data relating to the equity and debt markets, banking, insurance and asset management is also available. While the site looks deceptively simple to traverse, one needs the search engine for accessing information on corporate governance.

Commercial Affairs Department (CAD): www.cad.gov.sg
CAD is Singapore's investigative and enforcement agency for white-collar crime. Founded in 1984 under the MOF, it merged with the Commercial Crimes Division of the Singapore Police in 2000. The website is simple, with links to sections on previous convictions, an excellent crime prevention advice section, and an archive of speeches and past press releases. The site allows visitors to lodge complaints online. No search engine is provided, since there is not much data to sift through.

Corrupt Practices Investigation Bureau (CPIB): www.cpib.gov.sg
Singapore’s anti-corruption agency. The website is mainly brochureware with descriptions of the CPIB’s operations, history and background to corrupt practices and prevention in Singapore. The site also provides visitors with the means to lodge a complaint online.

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2. Regulatory agencies and stock exchanges

Singapore Exchange (SGX): www.sgx.com
Singapore’s stock exchange. This website has recently been renovated, but once again, while its structural layout looks clean, information is more difficult to access than one would expect. Its search engine for company notices and announcements is quite useful, it is structured according to types of documents (eg, reports, circulars, announcements) and only secondarily by company. In contrast, the same service offered by Hong Kong Exchanges centralises all company documents under a single company entry (which is much more efficient). And to find the listing regulations, you must first go to the "SGX Corporate Home", the link to which is to be found on the left-hand side of the SGX home page. Once in the exchange's corporate home page, the "Regulations" link is again on the far left side of the home page.

Accounting & Corporate Regulatory Authority (ACRA): www.acra.gov.sg
ACRA was formed in April 2004 through a merger between the Registry of Companies and Businesses and the Public Accountants Board. The website is busy, offering links to company registration, purchase of information, compliance and legislation and policies. A search engine is available only on the homepage, failing to appear on any of the following pages once a link is clicked. Use the sitemap for easy navigation.

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3. Government sites (miscellaneous)

Temasek Holdings: www.temasekholdings.com.sg
Temasek Holdings is the domestic investment arm of the Singapore Government, principally holding and managing the government's investments in major "government-linked companies"--although its reach has broadened of late to encompass regional investments as well. A simple site, which offers information on Temsek and its holdings, but otherwise rather bare. There is an interesting section on Temasek-linked companies, which gives an overview of all the companies Temasek owns shares in, with links to their sites. Temasek's approach to corporate governance is mentioned in its corporate brochure, while a section of its 2004 review is dedicated to this.

Central Provident Fund (CPF): www.cpf.gov.sg
The national pension fund of Singapore. The site is clean and easy to navigate, containing information relating to the operations and functions of the CPF. A number of useful tools are available for users of the site, including employees and employers, to help calculate entitlements, contributions and other relevant factors. In addition, a comprehensive links section is provided.

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4. Accounting and auditing sites

Accounting Standards Council (ACS): www.acs.gov.sg
Parliament passed the Accounting Standards on August 27, 2007. Once it came into effect on November 1, 2007 the Accounting Standards Council (ASC) took over the task of prescribing accounting standards from the Council on Corporate Disclosure and Governance (CCDG). In addition to prescribing accounting standards for companies, the ASC will also prescribe accounting standards for charities, co-operative societies and societies.

Institute of Certified Public Accountants of Singapore (ICPAS): www.accountants.org.sg
The national organisation of Singapore's accountancy profession. The website is easy to navigate and contains valuable information on the profession in Singapore. Information on the Singapore Accounting Academy, the training arm of ICPAS, is provided, as well as a technical section providing up-to-date details on new or revised accounting and auditing standards, practice statements and guidelines relating to accounting and financial reporting in Singapore. Visitors will find the links section to other relevant local and international sites useful.

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5. Activist organisations

Securities Investors Association (Singapore) (SIAS): www.sias.org.sg
SIAS is a non-profit organisation representing retail investors. It aims to promote better corporate governance, corporate transparency and investor education in Singapore. The site contains a detailed press release section, a comprehensive overview of SIAS's stance on corporate governance issues, and a section covering companies profiled by SIAS. However, a fair share of the site is restricted to members, including the education area that provides tools on investment basics and sections explaining the principles of fundamental and technical analysis.

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6. Professional organisations

Investment Management Association of Singapore (IMAS): www.imas.org.sg
IMAS, formed in 1997, is the representative body for the fund management industry in Singapore. The site is clean, up-to-date and easy to navigate. It offers a useful resource centre, including articles from around the world, as well as links to other sites around the region and an investor education section. Well worth a visit.

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7. Miscellaneous

Singapore higher education institutions: The following links provide access to the sections of websites of various education and research departments of Singapore universities that relate specifically to the issue of corporate governance in Singapore and Asia generally.

Corporate Governance & Financial Reporting Centre (CGFRC): www.cgfrc.nus.edu.sg
A site operated by the business school of the National University of Singapore (NUS), its aim is to research, disseminate and promote best practices in corporate governance and financial reporting. The site is simple but contains a lot of interesting data, including NUS and international research on corporate governance, individual country's corporate governance codes, and financial reporting standards from around the world.

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Contents

1. Key government sites
2. Regulatory agencies and stock exchanges
3. Government sites (miscellaneous)
4. Accounting and auditing sites
5. Activist organisations
6. Professional organisations
7. Miscellaneous

1. Key government sites

Financial Services and Treasury Bureau (FSTB): www.fstb.gov.hk
The FSTB is the government body with overall responsibility for the regulation and administration of the financial services industry, including establishing overall policy and legislation in relation to the securities and futures market, banking and monetary issues, and corporate governance. The site is essentially a link to its two branch websites: the treasury branch; and financial services branch. These sub-sites provide a detailed description of their respective activities as well as extensive related data, press releases and reports.

Hong Kong Monetary Authority (HKMA): www.hkma.gov.hk
The central bank of Hong Kong. The site contains extensive statistical data relating to the management of Hong Kong's financial system, including policies for monetary and banking stability: a good source of economic and financial data for Hong Kong.

The Independent Commission Against Corruption (ICAC): www.icac.org.hk
Hong Kong’s anti-corruption agency. The site contains a significant amount of data relating to all aspects of the commission’s activities against graft in Hong Kong. In addition to press releases and speeches, the site includes corruption statistics and fascinating case studies of landmark cases.

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2. Regulatory agencies & stock exchanges

Securities and Futures Commission (SFC): www.sfc.hk
Hong Kong's main securities regulator. The site is a primary source of regulatory, enforcement, and market information. Has some useful research papers and speeches.

Hong Kong Exchanges and Clearing Ltd (HKEx): www.hkex.com.hk
The holding company for Hong Kong's securities and futures exchanges. It is a data and information-rich site.

HKEx News: www.hkexnews.hk
With effect from February 4, 2008, the Hong Kong Exchanges and Clearing relocated its issuer information to a new site: HKExnews. Now all listed company announcements, circulars, reports, prospectuses, and notices are available at this new website.

Hong Kong Growth Enterprise Market (GEM): www.hkgem.com
Hong Kong’s second market for smaller and developing companies. The site includes a good search engine and extensive market data.

Office of the Commissioner of Insurance (OCI): www.oci.gov.hk
OCI is the body established by the government to administer Hong Kong’s insurance legislation and regulate the insurance industry. Its website is well laid out and easy to navigate. The site contains data on the insurance market in Hong Kong as well as downloadable sections with guidelines, press releases, and reports related to insurance, including the “Guidance note on the Corporate Governance of Authorized Insurers” (GN10).

Companies Registry: www.cri.gov.hk
The Companies Registry website contains extensive data on the administration of companies in Hong Kong. In particular, the site section on the Standing Committee on Company Law Reform details the various proposals, reviews and consultation papers issued by the committee relating to company law reform and related issues, including corporate governance matters.

Mandatory Provident Fund Authority (MPF): www.mpfahk.org
The regulator of Hong Kong’s mandatory retirement scheme. The site includes extensive information on the MPF scheme, investment philosophy and strategies, enforcement statistics and disclosure and education issues. There is also a statistics update and details of the MPF Scheme (amendment) Ordinance 2008 that becomes effective on November 1, 2008 included in the "what’s new" area.

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3. Government sites (miscellaneous)

Insider Dealing Tribunal (IDT): www.idt.gov.hk
IDT is the government body established to investigate and determine offences under Hong Kong’s Securities (Insider Dealing) Ordinance. The site provides a clear description of IDT’s activities and remit as well as sections detailing current and past IDT investigations and determinations.

Hong Kong Judiciary: www.judiciary.gov.hk
The official website for the judicial system of Hong Kong. An excellent site that contains extensive data on the workings and structure of Hong Kong’s judicial system as well as judgments, legal references, and other publications.

Department of Justice Bilingual Laws Information System: www.legislation.gov.hk
The Bilingual Laws Information System is a fully searchable and comprehensive electronic database of the statute laws of Hong Kong established by the Department of Justice. The site contains all the Ordinances and subsidiary legislation of Hong Kong that are currently in operation as well as past versions of Ordinances and subsidiary legislation (including repealed legislation) dating back to June 30, 1997. The site also contains some useful links to other related legal sites.

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4. Accounting and auditing sites

Hong Kong Institute of Certified Public Accountants (HKICPA): www.hkicpa.org.hk
A well-designed website that is packed with data and useful resources. In addition to accounting standards, drafts and papers, there is data on corporate governance, ethics, and risk management. Areas of interest include the standards and technical section, compliance, and continuing professional development.

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5. Activist organisations

Webb-site.com: www.webb-site.com
Edited by shareholder activist David Webb, Webb-site is a no-nonsense and voluminous source of data and analysis on the governance of Hong Kong companies. By far the most impressive site of its kind in Asia (if not the only site of its kind), it merits regular visits. Of special interest are the corporate governance directory and the hall of shame. There is also a good reference library, which can be accessed with the search engine. There is also a link to the HKEx News website, which can be accessed by inputting the company stock code.

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6. Professional organisations

The Hong Kong Institute of Chartered Secretaries: (HKICS): www.hkics.org.hk
A slightly confusing site that nevertheless offers more information than at first appears. The publications and news sections require a search engine to retrieve information, which makes browsing difficult. But the site contains useful information on governance issues and a good links section under "about us".

The Hong Kong Institute of Directors (HKIOD): www.hkiod.com
The site is devoted mainly to describing HKIOD, its training work, director awards scheme, and other activities (including its "board appointment service"). Although somewhat short on substantive information, it does contain helpful material in the publication section, including guidelines for directors and small and medium enterprises (SMEs).

Hong Kong Society of Financial Analysts (HKSFA): www.hksfa.org
HKSFA is a non-profit organisation founded to promote the professional and ethical standards of financial analysts and investment practitioners in Hong Kong. It is a member society of the CFA Institute, and the SFC approves the HKSFA for the provision of continuing professional education. The HKSFA website is basic and contains limited information.

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7. Miscellaneous

Hong Kong higher education institutions:
The following links provide access to the sections of websites of various education and research departments of Hong Kong universities that relate specifically to the issue of corporate governance in Hong Kong and Asia generally.

Chinese University of Hong Kong – Centre for Institutions and Governance

Hong Kong Baptist University - Centre for Corporate Governance and Financial Policy

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Arranged under headings and then alphabetically

Contents

1. Multilateral banks
2. International organisations
3. Corporate governance organisations
4. Pension organisations
5. Global advisors

1. Multilateral banks

Asian Development Bank (ADB): www.adb.org
The ADB is a multilateral development financial institution that aims to improve the welfare of the Asian people. The site has a page on governance that can be accessed by either clicking on the "Topics" icon at the top of the homepage or scrolling down the list of topics, also provided on the homepage.

Global Corporate Governance Forum (World Bank): www.gcgf.org
A multi-donor trust fund co-founded by the World Bank and the Organisation for Economic Co-operation and Development (OECD) to promote global, regional, and local initiatives aimed at improving the institutional framework and practices of corporate governance.

International Finance Corporation (IFC): www.ifc.org/corporategovernance
The IFC, a member of the World Bank group, exists to promote sustainable private sector investment in developing countries. Its corporate governance page provides a number of useful links and tools.

World Bank: www.worldbank.org
The International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) make up the World Bank, which provides low-interest loans, interest-free credit and grants to developing countries for education, health, infrastructure and communications. A special site on corporate governance is available under "Private Sector Development" on the "Topics" page.

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2. International organisations

International Accounting Standards Board (IASB): www.iasb.org
The IASB is an independent, privately-funded accounting standards setter, based in London, which develops enforceable global accounting standards. The detailed standards page is only available to subscribers, but other content is free.

International Association of Insurance Supervisors (IAIS): www.iaisweb.org
The IAIS represents insurance regulators and supervisors from 180 countries and issues global insurance principles, standards and guidance papers. Its insurance core principles on corporate governance can be accessed by clicking on the "Principles, Standards and Guidance" icon on top of the homepage. The page also contains other useful papers on IAIS principles.

International Federation of Accountants (IFAC): www.ifac.org
IFAC is the global organisation for the accountancy profession, with 163 member organisations in 120 countries. A link is available on the homepage to access its section on standards and guidance. Many of the papers, including its Code of Ethics, are available for download online but you have to register first (which is free).

International Organisation of Securities Commissions (IOSCO): www.iosco.org
IOSCO is an international cooperative forum for securities regulatory agencies with 181 members, which regulate more than 90% of the world's securities markets. Its "Objectives and Principles of Securities Regulation" is available on the "About IOSCO" page.

Organisation for Economic Co-operation and Development (OECD): www.oecd.org
The OECD, which comprises 30 member countries and has a working relationship with another 70, is committed to democratic government and the market economy. Click on the "By Topic" icon on the homepage, and then click on the "Corporate Governance" icon for information on the OECD's research and principles on CG.

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3. Corporate governance organisations

European Corporate Governance Institute (ECGI): www.ecgi.org
A non-profit academic organisation whose primary role is to undertake, commission and disseminate research on corporate governance. The website offers links to the codes of corporate governance of 62 countries in Europe and elsewhere in its "Codes and Principles", which can be accessed from the homepage.

International Corporate Governance Network (ICGN): www.icgn.org
A not-for-profit association that provides an investor-led network for exchanging views and information about corporate governance issues internationally; examines corporate governance principles and practices; and developes and encourages adherence to corporate governance standards and guidelines. Easiest to navigate the site through the site map.

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4. Pension organisations

Pacific Pension Institute (PPI): www.pacificpension.org
PPI is a non-profit educational organisation that helps pension funds, corporations and financial institutions around the world carry out their fiduciary responsibilities, especially in the Asia-Pacific region. Resource material on pension issues, international finance and economics and global affairs is available under the "Resources" page.

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5. Global advisors

Article 13: www.article13.com
Article 13, based in London, specialises in corporate social responsibility (CSR), governance and sustainable development; developing CSR policies and strategy through research and engagement for companies, governments and academic institutions. They provide client case studies, articles and in-house research on corporate governance and CSR, which are available online.

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Contents

1. Key government sites
2. Regulatory agencies and stock exchanges
3. Government sites (miscellaneous)
4. Accounting and auditing sites
5. Activist organisations
6. Business and professional organisations
7. Miscellaneous

1. Key government sites

Ministry of Finance (MOF): www.mof.go.jp
MOF's website is clean and well-designed, offering up-to-date statistics on Japan's economic and financial performance. Periodicals, research, information on Japanese government bonds, how to invest in Japan, and a "Links" section to other government sites and international institutions are provided.

Bank of Japan (BOJ): www.boj.or.jp/en
The country’s central bank. Its website contains a great deal of content relating to currencies, monetary policy and other macro-economic issues, but little about the governance of banks.

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2. Regulatory agencies and stock exchanges

Financial Services Agency (FSA): www.fsa.go.jp
The FSA is the single regulator for the Japanese financial industry. While not a sophisticated site, there is useful information on recent policy and rule changes, official speeches and links to related regulatory bodies. Unfortunately, most documents are not translated into English.

Tokyo Stock Exchange (TSE): www.tse.or.jp/english
The TSE is the largest stock market in Japan. TSE’s site is easy to navigate, containing much current and historical information, and a good “Links” section, but is not as comprehensive as its Japanese counterpart.

Securities and Exchange Surveillance Commission (SESC): www.fsa.go.jp/sesc/english
The SESC was formally launched in 1992 and has three functions: compliance inspections of securities houses, stock exchanges and financial futures brokers; market surveillance; and investigating securities crimes, including insider trading, market manipulation and falsified financial statements. The site is mostly quite bare, but does contain a useful section called "What's Hot", which offers detailed information on SESC's most recent investigations. Look in its annual report for statistics of past investigations.

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3. Government sites (miscellaneous)

Corporate Governance Japan (CGJ): www.rieti.go.jp
Founded in 2002 by the Japanese government’s Research Institute of Economy, Trade and Industry (RIETI), CGJ is an online forum for the discussion and debate of corporate governance issues in Japan. The site provides an extensive library of downloadable reports, papers and research covering a broad range of corporate governance subjects. A valuable resource for understanding corporate governance in Japan.

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4. Accounting and auditing sites

Certified Public Accountants and Auditing Oversight Board (CPAAOB): www.fsa.go.jp/cpaaob/english
CPAAOB was established on April 1, 2004 to enhance the function and system of monitoring CPAs and audit firms. The site only contains documents explaining CPAAOB's inception and functions.

Accounting Standards Board of Japan (ASBJ): www.asb.or.jp
Established by the Financial Accounting Standards Foundation (FASF), the ASBJ is the body responsible for the establishment and maintenance of Japan’s accounting and auditing standards. A simple website that provides a detailed and technical resource for Japanese accounting and auditing issues, including information on the FASF.

The Japanese Institute of Certified Professional Accountants (JICPA): www.jicpa.or.jp
A basic brochureware site that provides limited data on Japanese accounting and auditing systems. The site lacks a search engine and provides no library or data resource.

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5. Activist organisations

Japan Corporate Governance Forum (JCGF): www.jcgf.org
A membership organisation that aims to promote and debate corporate governance issues in Japan. JCGF issued the first corporate governance principles in 1998, the full version of which can be read on this site or on ACGA's "Codes and Rules" page. The English language site is limited in content, providing limited information and much is outdated. This site does not do justice to JCGF's contribution to corporate governance reform in Japan.

The Kabunushi (Shareholders’) Ombudsman (KO): www1.neweb.ne.jp/wa/kabuombu
The KO is a non-profit organisation comprising lawyers, accountants, academics and shareholders. It aims to reform Japanese management practices to incorporate the views of all shareholders in Japanese companies. The KO has been particularly active and high profile in pursuing its goals, and is increasingly influential. The website is in Japanese with few pages in English, essentially limited to a brief description of its mission and activities.

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6. Business and professional organisations

Nippon Keidanren (NK): www.keidanren.or.jp
The Japan Business Federation, or Nippon Keidanren, is an influential economic organisation comprising more than 1,600 members, including more than 1,300 companies. The aim of Keidanren is to promote and develop a free, fair and transparent Japanese economy. The Keidanren’s English website is well laid out and current, including many publications and research on a wide range of economic, social and management issues, including corporate governance.

Keizai Doyukai (Japan Association of Corporate Executives): www.doyukai.or.jp/english
Keizai Doyukai is a private, non-profit, non-partisan organisation that was formed in 1946 by business leaders to help with the reconstruction of the Japanese economy. It is actively involved in conducting research, in-depth studies and discussions on the Japanese economy and its future, influencing government policies and industries. The English website, however, is sparse and outdated, containing its policy proposals, including on corporate social responsibility, an overview of the organisation, and how to contact them.

American Chamber of Commerce Japan (ACCJ): www.accj.or.jp
Established in 1948, ACCJ's mission is to promote commerce between the US and Japan, support measures to benefit and protect the interests of US companies, present a variety of programmes that keep chamber members abreast of current business practices and trends, and foster a better international business environment in Japan. The organisation's membership consists of 3,200 professionals from 1,300 companies and more than 40 countries. A well-organised, easy-to-navigate site, which offers a wealth of information on its members, committees, events, advocacy programmes, and publications, plus an extensive archive.

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7. Miscellaneous

Japan Corporate Governance Research Institute (JCGRI): www.jcgr.org
A non-profit organisation set up by individuals from academia and business, JCGRI aims to promote a deeper understanding of the values of corporate governance in Japan. The website is basic but contains some research and papers, including a downloadable version of its informative annual survey of the governance of large listed Japanese companies.

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