澳大利亚公司董事会在公司文化监管中的角色变化（英文版）

The Australian Securities and Investments Commission's ("ASIC") recent crackdown on corporate culture, particularly focused on banks, has been fuelling much debate about the role of boards in the oversight of culture within an organisation. Some have accused ASIC of attempting to be the "culture police" and expecting directors to step into the shoes of management. Others, including ASIC, insist that this is not the case at all.

In our view, at the core of this debate is a need to clarify the role of Australian boards in overseeing and monitoring the culture of an organisation because a poor culture can significantly increase the risk of poor conduct and ultimately lead to the destruction of shareholder value, and adversely affect employees, customers and suppliers.