ASX Compliance today released an independent report from KPMG on the adoption by ASX-listed companies of the ASX Corporate Governance Council’s recommendations relating to gender diversity.
The Council’s diversity recommendations came into effect for financial years beginning on or after 1 January 2011.
The ASX Education and Research Program commissioned KPMG to conduct an independent analysis of the diversity disclosures made by listed companies with a 31 December 2011 year end, being the first group of companies required to report against the diversity recommendations.
The Council’s recommendations provide an industry-wide reporting framework for corporate governance. They are not mandatory but ASX requires listed companies to disclose in their annual report the extent to which they have followed the recommendations during the relevant reporting period. Where companies have not followed all of the recommendations, they must provide an explanation as to why (‘if not, why not’ reporting).
The report includes statistics on the adoption of the Council’s diversity recommendations and an overview of the types of activities undertaken by listed companies in the pursuit of diversity within their organisations. The report also provides an analysis of diversity policies, measureable objectives within those policies, and findings on gender diversity including board selection processes and remuneration reviews.
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