There has been very little guidance over the years for unlisted companies. In fact, it's not a topic I've really thought much about despite many years of work in the area of corporate governance. The void has been filled, at least in the U.K., through the report just released by the Institute of Directors, the European Confederation of Directors' Associations and Deloitte. The report, Corporate Governance Guidance and Principles for Unlisted Companies in the UK, provides a blueprint for those running unlisted companies to assure practices that help maintain key relationships among the directors, employees and shareholders and to assure that officers and directors comply with their legal duties.
Thanks to the IOD, ECDA and Deloitte for the report. It's well done and provides very sound guidance in an area where such guidance was completely lacking. Most of the principles set forth in the report apply equally in other countries, as well.