Where does Canada stand today in governance? After sharing a position of global leadership in corporate governance during the mid-1990s, with the publication and fairly widespread adoption of sweeping changes in the Dey Report (Where Were the Directors, 1994), Canada has slipped behind its major trading partners in recent years. What can be done about it?

Canada has ample opportunity for improvement in a number of areas. This report suggests 10 actions intended to address underlying systemic structural governance issues that exist on both sides of the border, most visible at the extreme in the cases of Enron and WorldCom and in other recent crises. Each issue is explored individually, beginning with the experience of Enron and its peers, extending these lessons to Canada, and proposing remedies.