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Independent Directors and Australia's Corporate Governance Model: A Survey of Independent Directors' Views

Veljanovski, Angelo and Brooks, Albie and Oliver, Judy (2009) Independent Directors and Australia's Corporate Governance Model: A Survey of Independent Directors' Views. The Australian Journal of Corporate Law, 24 (1). ISSN 1037-4124

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Abstract

Recent national and international financial failures have focused attention on corporate governance issues and the appropriate mechanisms to achieve good corporate governance. One area of focus has been the role of directors and management in these collapses.There has been significant legislative response to these collapses and in Australia this was evident in the Corporate Law Economic Program (Audit Reform and Corporate Disclosure) Act 2004 with its main focus on auditor independence and other reforms. An issue that arises in the ongoing debate on corporate governance has been the use and importance of independent directors in achieving good corporate governance. While there is no legislative requirement for companies to have independent directors, good corporate governance practices seem to suggest they should. The unanswered question is whether independent directors make any difference in fact, as opposed to appearance, in achieving good corporate governance.

Item Type: Article
Uncontrolled Keywords: ResPubID17717, corporate governance, financial collapses - national and international, role of directors, management, auditor independence, independent directors
Subjects: FOR Classification > 1503 Business and Management
FOR Classification > 1801 Law
Faculty/School/Research Centre/Department > School of Law
SEO Classification > 9404 Justice and the Law
Depositing User: VUIR
Date Deposited: 22 Sep 2011 04:19
Last Modified: 22 Sep 2011 04:19
URI: http://vuir.vu.edu.au/id/eprint/4655
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