A recent noteworthy development in relation to Australian Stock Exchange (ASX)-required disclosures is the establishment of the ASX Corporate Governance Council,and the issue of Principles of Good Corporate Governance and Best Practice Recommendations.In relation to these principles:
A) All companies governed by the Corporations Act 2001 must abide by these principles and recommendations.
B) The Australian Accounting Standards Board (AASB) has incorporated the principles and recommendations into the Accounting Framework.
C) All ASX-listed companies are compelled by law to comply in entirety with these principles and recommendations.
D) All ASX-listed companies are compelled to change their corporate governance systems to ensure total compliance with these principles and recommendations.
E) All ASX-listed companies must follow these principles and recommendations, and where they have not, they must identify the fact that they have not and give reasons for not following them.

Question

Quizplus · Accepted Answer

ASX-listed companies are required to follow the Principles of Good Corporate Governance and Best Practice Recommendations established by the ASX Corporate Governance Council. If a company has not followed any of these principles, they must identify and disclose the fact that they have not followed them, along with the reasons for their non-compliance. However, there is no legal compulsion for companies to change their governance systems to ensure total compliance.

A Recent Noteworthy Development in Relation to Australian Stock Exchange