Corporate Governance Taskforce
Good corporate governance in the financial services sector is essential for a fair, strong, and efficient financial system for all Australians.
In August 2018 ASIC received funding to conduct targeted reviews into corporate governance practices of large listed entities to gain an insight on actual governance practices.
In its first year, ASIC’s Corporate Governance Taskforce considered how directors and officers have overseen and managed:
- non-financial risk; and
- executive renumeration.
Director and officer oversight of non-financial risk report
Our report sets out our observations on director and officer oversight of non-financial risk. The report considers how directors and officers of large and complex financial services companies are discharging their duties in relation to oversight and monitoring of non-financial risk, and highlights ways that governance practices could be improved.