Key Points:
The deadline for comments on the ASX's Corporate
Governance Guidelines is 15 November 2013.
Listed entities will face more onerous reporting under proposed
changes to the ASX's Corporate Governance Guidelines.
The changes will affect annual reports for financial years
beginning on or after 1 July 2014.
The Corporate Governance Council is seeking comments on the
proposals.
Background to the proposed changes to the ASX's
Corporate Governance Guidelines
The last major rewrite of the Guidelines was in 2007, just as
the GFC was biting. The Corporate Governance Council
("CGC") notes that overseas legislators are now facing
demands for mandatory requirements to address the governance
failings that allegedly led to the GFC. The CGC makes no bones
about the fact that the new rewrite is aimed at heading off similar
demands in Australia.
