Executive SearchCorporate governance reporting remains high
July 8, 2010
On July 8, the ASX released the findings of a report comparing reporting principles of the ASX listed companies against the Corporate Governance principles.
The review covered the following topics:
- Independence of directors
- Trading policies
- Risk management
- Remuneration committees; and
- Diversity
The findings, based on the information in over 1600 annual reports, revealed that reporting standards are ‘high’, with over 93% of entities reporting on all 27 recommendations.
Eric Mayne, Chief Supervision Officer of ASX, said: "The continued high level of reporting against all the recommendations shows that a culture of sound corporate governance transparency has developed among ASX listed entities since the first Principles and Recommendations were introduced in 2003".
OPPEUS is pleased to hear with the findings in the ASX report. It is our aim to stay in touch with the latest Corporate Governance news and reports in the interest of our clients and the wider business community in general.
We are especially interested in the area of Board Diversity and also Remuneration Committees, two areas OPPEUS is deeply involved in.
Pleasingly, the review showed that 67 (or 45%) of the 149 top 200 entities reviewed reported as having t least 1 female Director on the Board, however female directors represent only 8.3% of the total ASX200 Board Director seats.
Click here to view the ASX release.
(ASX press release attached)
