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ARTICLE · 28 APRIL 2014

Are you ready for the new ASX rules?

HopgoodGanim
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New rules require that companies disclose their internal audit and assurance protocols to investors.

AustraliaFinance and Banking
Brian Moller
Brian Moller
Kaitlyn Rafter
Kaitlyn Rafter
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The Corporate Governance Principles and Recommendations 3rd Edition (Principles and Recommendations), which was released on 27 March 2014 by the ASX Corporate Governance Council (Council), requires that companies disclose their internal audit and assurance protocols to investors.

It was recently reported1 that only approximately half of ASX listed companies have internal audit functions. With the new Principles and Recommendations commencement date fast approaching, it is now more important than ever that all ASX listed companies have established either:

  • a formal internal process; or
  • an assurance protocol arrangements for independently verifying and safeguarding corporate reporting.

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