White Paper - Internal Audit and the ASX Corporate Governance Principles and Recommendations

Whitepaper

This is a members only resource.

Please login to access.

Author

Michael Parkinson

BSc (Hons), GradDipComputing, CIA, CISA, CRMA, CRISC, PFIIA

Date

2023

Topics Explored

Internal Audit, Governance

Format

White Paper

Extract/Description

This white paper addresses how internal audit should respond to Principle 7 and aspects of Principle 4 of the ASX Corporate Governance Council’s “Principles and Recommendations” 4th edition.

Key Points

1. All listed entities are required to report against the recommendations from 1 Jan 2020.
2. Boards of listed entities should consider risks and the entity’s risk management framework in a holistic sense.
3. Disclosure of the entity’s risk management policies is considered good practice and should be encouraged.
4. If a listed entity has determined not to put an internal audit function in place, the entity must disclose that fact and the processes it employs for evaluating and continually improving the effectiveness of its risk management and internal control processes.
5. Model disclosures are available and are set out in this document.