Disclosure of Processes to Verify the Integrity of Periodic Corporate Reports: A comparative analysis of ASX Corporate Governance Recommendation 4.3 disclosures by Australia’s largest listed entities
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posted on 2024-12-05, 04:01 authored by Pei Jia LumPei Jia Lum, Eka TanEka Tan, Peter CareyPeter Carey, Roger SimnettRoger Simnett, Michael BrayMichael Bray, Peter VuongPeter VuongDisclosure of Processes to Verify the Integrity of Periodic Corporate Reports: A comparative analysis of ASX Corporate Governance Recommendation 4.3 disclosures by Australia’s largest listed entities
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978-0-7300-0242-0Research statement
Background This research explores the quality of disclosures by Australia’s largest listed companies in response to ASX Corporate Governance Recommendation 4.3. The recommendation, introduced in 2019, requires listed entities to disclose their processes for verifying the integrity of periodic corporate reports not audited or reviewed by external auditors. The research analyzes disclosures by ASX 300 companies to identify trends and assess the effectiveness of integrity-enhancing mechanisms. This research is crucial because investors and stakeholders rely on the integrity of company reporting for informed decision-making. Contribution The Deakin Integrated Reporting Centre (DIRC) research advances understanding of corporate governance by analyzing ASX Corporate Governance Recommendation 4.3. It identifies trends over three years, showing improved disclosure practices and varied adoption across industries. Capital-intensive sectors lag behind others like healthcare in governance frameworks. Larger companies employ more robust controls than smaller ones. Using the "Three Lines of Defence" model, it evaluates assurance mechanisms and offers actionable recommendations to improve transparency and trust, benefiting regulators, industry bodies, and policymakers. Significance The DIRC's research on ASX Corporate Governance Recommendation 4.3 highlights key insights into corporate reporting in Australia. The research influences policy, shaping the 5th Edition of ASX Governance Principles, and offers recommendations to stakeholders, urging improved transparency. Using the "Three Lines of Defence" model, it provides a longitudinal analysis, focusing on unaudited reports and aligning with global trends. Its impact spans academia, policy, and practice, driving better governance and investor trust.Publisher
Deakin UniversityUsage metrics
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