Organization for Economic Co-operation and Development


Organization for Economic Co-operation and Development
OECD A Paris-based international organization representing 30 nations. The OECD was established in 1961, and it superseded the Organization for European Economic Co-operation which administered U.S. aid under the Marshall Plan following World War II. The OECD’s activities include the production of economic statistics, technical assistance for developing countries, and an extensive publications program. The OECD describes itself (on its Web site) as an organization of nations that share "a commitment to democratic government and the market economy." It also states that the organization "has been called a think tank, a monitoring agency, a rich man’s club and an unacademic university. It has elements of all, but none of these descriptions captures the essence of the OECD." The OECD’s areas of interest include (i) the promotion of the institutional framework for *globalization, (ii) the curbing of international *bribery (iii) the monitoring of *tax havens, and (iv) the enhancement of international *corporate governance. On the latter topic, the OECD undertakes a vigorous program of publications and policy statements: Its OECD Principles of Corporate Governance, finalized in 1999, are nonbinding but are widely considered to be authoritative. The OECD’s publications also include guidelines for the conduct of Multinational enterprises in areas like environment practices and anti*corruption measures. All these policy documents and guidelines are available from the OECD Web site. The organization also participates in the *International Forum on Accountancy Development. Web site: www.oecd.org

Auditor's dictionary. 2014.

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