The directors of a company can delegate functions to committees; however, it is not mandatory to do so for most companies. The ASX Listing Rules require larger listed companies to have audit and remuneration committees. Other than this, the Governance Council Recommendations recommend all listed companies should have, in addition to those, a nominations committee and a risk committee.
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What are the benefits of corporate governance?
Corporate governance is critical for an organisation, as it increases accountability. When the board of directors, management, company employees and shareholders are responsible for each other, this helps ensure everyone…read more
What are company directors’ duties and responsibilities?
In general, directors’ duties are set out under the Corporations Act 2001, which governs the way in which companies are run. The board of directors are responsible for a company’s…read more
Are board directors paid?
The Corporations Act states that directors may be paid a fee for directorial services as set out by a member resolution. Directors may also be reimbursed for travelling and other…read more