Australia: Financial Sector Assessment Program: Technical Note: Investor Protection, Disclosure, and Financial Literacy
IMF Staff Country Reports, December 12, 2006
Source details
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- Australia: Financial Sector Assessment Program: Technical Note: Investor Protection, Disclosure, and Financial Literacy
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Bibliographic details
- Published: December 12, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451802160.002
Major findings
- The corporate governance framework for Australian-listed companies is largely healthy and dynamic.
- Shareholder activism is an important element of corporate governance because it promotes compliance and implementation of disclosure and corporate governance obligations.
- The legislative and regulatory framework in Australia includes disclosure requirements that meet or exceed the requirements that exist in many other countries.
- Disclosure and transparency are key components of the OECD Principles of Corporate Governance.
Policy implications and emphasis
- Strengthening and maintaining mechanisms that support shareholder activism is important for promoting compliance with disclosure and corporate governance obligations.
- Maintaining disclosure requirements that align with or surpass international norms helps ensure investor protection and corporate governance quality.
- Emphasizing disclosure and transparency consistent with the OECD Principles of Corporate Governance supports market confidence and regulatory effectiveness.
Summary (as provided)
- This study reviews selected issues on investor protection and corporate governance in Australia, and concludes that the corporate governance framework for Australian-listed companies is largely healthy and dynamic. Shareholder activism is an important element of corporate governance because it promotes compliance and implementation of disclosure and corporate governance obligations. The legislative and regulatory framework in Australia includes disclosure requirements that meet or exceed the requirements that exist in many other countries. Disclosure and transparency are key components of the OECD Principles of Corporate Governance.
Subjects and keywords
- Subjects: Auditing, Business enterprises, Corporate governance, Economic sectors, External audit, Financial institutions, Public financial management (PFM), Securities
- Keywords: ASIC Commissioner, Auditing, Business enterprises, company auditor, company governance, Corporate governance, corporate governance practice, CR, disclosure obligation, disclosure requirement, Europe, External audit, Global, implementation effort, ISCR, Securities
International Monetary Fund. "Australia: Financial Sector Assessment Program: Technical Note: Investor Protection, Disclosure, and Financial Literacy", IMF Staff Country Reports 2006, 437 (2006), DOI: https://doi.org/10.5089/9781451802160.002