Corporate governance study

In 2021-2022, the Commission ran a public consultation on the three pillars of corporate reporting: corporate governance, statutory audit and supervision. In the field of corporate governance, the  respondents identified the need for potential improvements. This is why the Commission has prepared this study to understand better the issues and situation in the various Member States.

With reference to a given set of Member States and third countries (notably Germany, France, Poland, Italy, Ireland, the Netherlands, Sweden, Croatia, Portugal, Latvia, Japan and the United States), the study gathers evidence and findings on companies’ different architecture of corporate governance, corporate reporting internal control systems, and on corporate governance oversight mechanisms and sanctions underpinning corporate reporting. The analysis includes an assessment of evidence aimed at identifying commonly found features of corporate governance, best practices and gaps, as well as potential issues. In its conclusion, the study suggests potential solutions to address the identified problems or facilitate the wider adoption of best practices. While the European Commission at this stage does not see a need to re-open legislation, we will engage with Member States and other stakeholders based on the findings of this study and to promote the best practices identified.