The OECD Principles do not follow the laws of nature and unless they do, corporations will remain exposed to failure from misdirection, mismanagement, malfeasance, and fraud, says Dr. Shann Turnbull, Principal of the International Institute for Self-governance based in Sydney and a Fellow of the Institute for International Corporate Governance and Accountability at The George Washington University Law School.

The OECD Corporate Governance Principles have failed to protect shareholders, investors, stakeholders and the integrity of the corporate economies of its member states. As a result, the OECD Web page1 states that there has been a "request from OECD governments for reinforcement of the Principles."

Since they were adopted in 1999, the OECD Principles have been "a reference for national legislation and regulation, as well as guidance for stock exchanges, investors, corporations and other parties.2" As a result, initiatives taken by many parties including the World Bank, various governments and stock exchanges are also flawed.

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