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 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

All ASX-listed companies are required to follow the Principles of Good Corporate Governance and Best Practice Recommendations issued by the ASX Corporate Governance Council. However, if a company is unable to comply with any of these principles, it must disclose the fact that it has not followed them and give reasons for the non-compliance. This is in line with the "comply or explain" approach endorsed by the ASX Corporate Governance Council.

A Recent Noteworthy Development in Relation to Australian Stock Exchange