Governance Briefing — ASX Corporate Governance Principles 5th edition

Executive briefing: On 27 February 2024 the ASX Corporate Governance Council released the 5th edition of its Corporate Governance Principles and Recommendations. ASX-listed entities must report against the updated recommendations for financial years commencing on or after 1 July 2025. Enhancements include deeper board oversight of corporate culture, sustainability risks, cyber resilience, and assurance over non-financial metrics.

Key governance signals

Cultural stewardship. Recommendation 3.1 now requires boards to oversee culture metrics, whistleblowing, and conduct risk frameworks.
Sustainability disclosures. Boards must describe oversight of sustainability risks and opportunities, including scenario analysis and assurance.
Technology and cyber. Boards are expected to maintain appropriate skills and controls for cyber security, data governance, and digital transformation.

Action checklist

Benchmark current governance disclosures against 5th edition recommendations to identify gaps.
Update board skills matrices, training plans, and committee charters to reflect new expectations.
Enhance reporting processes for culture metrics, sustainability targets, and assurance outcomes.

Enablement moves

Deploy governance dashboards that integrate culture, sustainability, and cyber indicators for board oversight.
Engage internal audit and external assurance providers to review non-financial metrics and governance processes.
Coordinate investor relations messaging to explain governance enhancements and progress toward full compliance.

Sources

Zeph Tech helps ASX issuers operationalise the 5th edition by aligning board reporting, culture metrics, and sustainability assurance programmes.