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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.
