Corporate governance is a key tool for optimising company board and management accountability. It provides a framework for a company’s board of directors to manage its relationships with company stakeholders in a fair and transparent way. Read more
What are the primary sources of law, regulation and practice for corporate governance?
The primary source of regulation for corporate governance in Australia is the Corporations Act 2001 (Cth). Corporate governance is also subject to common law principles within the court system. Read more
Who makes up a board of directors?
A board should be structured so there is a balance between executive and non-executive members, there is a majority of non-executive directors, and there is at a minimum a critical mass (at least two for a smaller board) of independent directors. Read more
How are board members elected or removed?
As a general rule, company constitutions and/or shareholder agreements cover resignations and the appointment/removal of directors, as well as procedures for filling casual vacancies when a director leaves the company. Read more