Draft of the Corporate Governance Principles and Recommendations 5th Edition
On 8 May 2024, AFIA made a submission to the Australian Securities Exchange Ltd (‘ASX’) on the consultation draft of the 5th Edition of their Corporate Governance Principles and Recommendations.
This guidance is non-binding and only applies to publicly listed companies on the ASX.
AFIA made a series of recommendations related to the following topics:
the scope of the skills matrix requirements
clarification of the definitions of ‘stakeholders’ and ‘material issues’
proposed changes to the auditing requirements between the 4th and 5th editions
limitations on remuneration and other associated benefits
We will continue to work with the ASX on refining these principles to meet high standards.