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ASX Corporate Governance Series

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The ASX released their revised Corporate Governance Principles and Recommendations (the Principles) in late 2007. The new Principles continue the non-prescriptive ‘if not, why not’ disclosure-based approach to Australian Corporate Governance.

The new ASX Principles will apply for financial years beginning on or after 1 January 2008 (i.e. for a 30 June balance date company, 30 June 2009).

Key changes include:

  • a reduction in the number of principles from 10 to 8
  • a reduction in the number of recommendations from 28 to 26
  • removal of the word best practice
  • removal of as much prescription as possible
  • changes to Principle 7 including introduction of material business risks
  • independence of directors
  • trusts and other externally managed entities
  • equity remuneration to executives.

For more information see our resources below.

Latest resources

Principle 7 - June2009
   Recognise and manage risk: A guide to compliance with ASX Principle 7
This guide is designed to assist those companies that are at the very beginning of their risk journey. It aims to be a practical tool to help small to medium capitalised companies to understand the expectations of supervisors, regulators and the wider market about how they manage risk and consequently how they can begin to meet their reporting obligations in relation to Principle 7.		  
Principle 7 - Summary  
Recognise and manage risks: A short guide to compliance with ASX Principle 7 - Summary document
A high level summary guide designed to assist companies understand what is involved in managing risk under ASX Principal 7.

A recording of the ASX Market Supervision Seminar held in Perth June 2009 introducing the new SME Principle 7 “how to” guide
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ASX corporate governance   Revised ASX Corporate Governance Principles
Craig Mitchell, Deloitte Governance and Risk Partner, examines in detail the changes to the ASX Principles, effective financial years beginning on or after 1 January 2008, and how they may affect your organisation.
     
Board Audit Committee Conversation   Board Audit Committee Conversation on the revised ASX Principles, July 2007
A summary record of the July 2007 Deloitte BAC Conversation on the ASX Corporate Governance Council's proposed changes to Principle 7 focussing on how boards will fulfil their obligations and what benefits might arise for their companies.
     
ASX corporate governance   The risk community's views on the revised ASX Principles, August 2007
A report from the August 2007 Deloitte 'Risk Series' discussion forum focusing on ASX Principle 7: Recognise and Manage Risk.

Interviews

ASX corporate governance   Non-prescriptive Corporate Governance journey delivers value for corporates & stakeholders 
An interview with Craig Mitchell, Deloitte Governance and Risk Partner and member of the ASX Corporate Governance Council.

Podcasts

ASX corporate governance   The revised ASX Corporate Governance Principles
Eric Mayne, Chair of the ASX Corporate Governance Council, discusses the changes to the ASX Principles and how they may affect your organisation.
     
ASX corporate governance   Talking reward: a continuing focus on reward governance
Deloitte partners Joe Tropeano and Stephen Cornwell discuss recent amendments to the ASX Principles and their implications for executive remuneration.

Archives

ASX corporate governance   Proposed revisions to the ASX Principles
A Deloitte analysis of the December 2006 draft changes to the ASX Corporate Governance Principles.

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