This report provides an in-depth analysis of corporate governance principles and their application to the Commonwealth Bank of Australia. It begins with an introduction to corporate law and its significance, followed by an examination of the bank's adherence to key principles of good corporate governance, including ethical conduct, transparency, risk management, and director's duties. The report highlights instances where the bank has fallen short of these principles, referencing specific cases and regulatory actions. Furthermore, the report explores the implications of non-adherence to good corporate governance, covering legal, social, and economic impacts. It also includes a case study of Australian Securities & Investments Commission v Adler, illustrating the consequences of breaching director's duties. The report concludes by emphasizing the importance of corporate governance for the bank's success and reputation, offering valuable insights for students of corporate law and finance. It highlights the importance of the ASX corporate governance principles and their impact on listed companies.