Setting the benchmark for good corporate governance
ASX Principle 7 revisions
At Deloitte, we are setting the benchmark for good corporate governance and risk management practices in Australia. Working with the G100 (the peak body for the top ASX100 senior finance executives), we have developed a Better Practice Guide to help interested parties achieve excellence in corporate governance and how to better implement the revised Principle 7
In March 2014, the third edition of the ASX Corporate Governance Council Principles and Recommendations was released and became effective for a listed entity’s first full financial year commencing on or after 1 July 2014.
The Group of 100 (the peak body for the top ASX100 senior finance executives) is committed to assisting its members achieve good governance outcomes by developing a better practice guide with Deloitte, focusing on the revised Principle 7: Recognise and manage risk.
The Better Practice Guide provides an overview of the key changes to Principle 7, an understanding of the attributes of effective risk management and how it can help drive performance and top quality corporate governance. It is critical a company’s risk and internal control framework is tailored to its individual context.
Written for Board members, CEOs, CFOs and CROs, the Guide contains concepts which can be leveraged as they further enhance the effectiveness of their risk management frameworks. A simple question and answer format has been used so readers can form a view regarding factors to consider when facilitating better practices in developing, implementing and embedding risk management frameworks.
This publication is recommended for Group of 100 members and other interested parties as a valuable reference to facilitate better practices in recognising and managing risk.