ASX Governance Principles

Running head: ASX GOVERNANCE PRINCIPLES
ASX Governance Principles
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1ASX GOVERNANCE PRINCIPLES
Executive Summary
The corporate governance principles can be defined as the system of rules, processes and
practices by which a particular corporate entity has been controlled and directed. The corporate
governance structure essentially involves the balancing of the company’s interests in regards to
the different stakeholders of business.
This particular study has chosen the corporate entity of Woolworths Group. The
Woolworths Group has been a top listed corporation of Australia and has been one of the leading
groups in regards to this particular industry. The corporate governance statement of the company
has been analyzed and other essential components have also been evaluated in this particular
study. Moreover, it has been found out that the administration of Woolworths Group has resulted
in the proper compliance with the governance principles.

2ASX GOVERNANCE PRINCIPLES
Table of Contents
Introduction......................................................................................................................................3
ASX Corporate Governance Principles...........................................................................................3
Risk Assessment Procedure.............................................................................................................6
Conclusion.......................................................................................................................................9
References......................................................................................................................................11

3ASX GOVERNANCE PRINCIPLES
Introduction
The corporate governance principles refer to the essential principles that have been
established for the purpose of execution of the smooth business operations that is facilitated by
the corporate entities. The governance of the essentialities of business is a key factor that
contributes effectively to the success of business. In case of the corporate firms, the governance
principles are imposed and controlled by the Board of Directors. However, it must be mentioned
here that the indirect stakeholders of business also hold an opinion in case of the structuring of
the principles.
In order to evaluate the significance of the corporate governance principles in Australia,
the particular corporate entity that has been chosen for the purpose of this study is of the name
Woolworths Limited. The corporate governance statement and the annual report of Woolworths
Limited has also been analyzed and studied for the financial year of 2017, in order to understand
the significance of the principles.
ASX Corporate Governance Principles
The ASX Corporate Governance Principles apply to all the listed entities and irrespective
of the fact whether they have been operating inside or outside Australia. The phrase corporate
governance principle can be described as the framework of rules, systems and other processes
that helps in exercising the required degree of authority within the operating structure of the firm.
Moreover, the eight essential principles that seek to promote the central principle of corporate
governance has been as follows:
 Laying down of the strong foundations for oversight and management – it has been cited
by the ASX Corporate Governance Principles that an entity that is listed will have to lay