The phrase “corporate governance” describes “the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled within corporations. It encompasses the mechanisms by which companies, and those in control, are held to account.” - Justice Owen in the HIH Royal Commission.
Since Justice Owen offered this definition of corporate governance there have been many major developments and changes in the global financial sector, in response to these events, a number of jurisdictions have adopted new legislation regulating corporate behaviour and/or upgraded their corporate governance codes. Ensurance Limited have formulated a plan in response to these changing times.
Good corporate governance promotes investor confidence, which is crucial to the ability of entities listed on the ASX to compete for capital.
The Ensurance Limited Coporate Goverrnance plan covers the specific areas;
SCHEDULE 1 BOARD CHARTER
SCHEDULE 2 CORPORATE CODE OF CONDUCT
SCHEDULE 3 AUDIT AND RISK COMMITTEE CHARTER
SCHEDULE 4 REMUNERATION AND NOMINATIONS COMMITTEE CHARTER
SCHEDULE 5 DISCLOSURE – PERFORMANCE EVALUATION
SCHEDULE 6 DISCLOSURE – CONTINUOUS DISCLOSURE
SCHEDULE 7 DISCLOSURE – RISK MANAGEMENT
SCHEDULE 8 GUIDELINES FOR BUYING AND SELLING SECURITIES
SCHEDULE 9 SHAREHOLDER COMMUNICATIONS STRATEGY
SCHEDULE 10 DIVERSITY POLICY
ANNEXURE A DEFINITION OF INDEPENDENCE