All ASX listed companies, and the broader business community, have been prompted to ensure processes are in place to continually reinforce a positive culture.
The ASX Corporate Governance Council has redrafted the well-known core principles to ensure companies actively enforce a good culture and always act lawfully and ethically.
As stated by the ABC, “While the guidelines retain the same eight core principles, a key change urges companies to instil and continually reinforce a culture of acting lawfully, ethically and in a socially responsible manner.”
Team Your Call was pleased to hear ASX Head of Compliance Kevin Lewis telling The World Today the recommendations will include the interest of whistleblowers …”We have shone a light on the issues around values and codes of conduct, things like whistleblowers and the need for boards to be notified of material events.”
Your Call’s clients are provided with a range of tools to ensure the organisation can offer stakeholders 360-degree reporting, direct access (anonymously) to senior leaders, the ability to report victimisation and an avenue to escalate directly to the Board.
Mr Lewis is confident most companies would comply…”Listed companies (2,200) have an obligation under our listing rules to disclose the extent to which they follow the council’s recommendations and if they don’t follow a recommendation they have to explain why not,” Mr Lewis said.