The 'If Not, Why Not' Approach of the ASX Corporate

question 5

Multiple Choice

The 'if not, why not' approach of the ASX Corporate Governance Council to its recommendations requires companies to:

• A) Disclose whether they have complied with the principles and recommendations
• B) Establish an audit committee
• C) Report to ASIC any breaches by their auditor of the Code of Ethics
• D) Have a majority of the board as independent directors

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Definitions:

Low-context Culture

A communication style where messages are explicit, specific, and detailed, often requiring less interpretation based on shared context or knowledge.

Homogeneous Country

A nation in which the population has a high degree of similarity or uniformity in aspects such as culture, language, or ethnicity.

Subcultures

Groups within a larger culture that have their own distinct norms, values, and traditions.

Feng Shui

An ancient Chinese philosophical system of harmonizing individuals with their surrounding environment through specific spatial arrangements.