The Irish Association of Investment Managers has announced a major review of its corporate governance guidelines, which apply to Irish quoted companies.

The IAIM represents institutional investors who have more than £53 billion under management on behalf of Irish and overseas clients. The association's secretary general, Ms Anne Fitzgerald, said yesterday, that it wants to work with quoted companies in achieving the highest international standards of corporate governance.

It has now sought initial comments from companies and advisers and plans to issue a consultation paper by the end of July. The revised guidelines are due to be published in September.

The IAIM is also preparing a new report on quoted companies compliance with corporate governance standards which will be concluded in July. The guidelines which will be reviewed include the association's paper on the role and responsibilities of directors and its guidelines on share option and profit sharing schemes.