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ASIC's Centro case rattles boards

Sun. October 25, 2009; Posted: 03:44 PM
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Oct 25, 2009 (The Australian Financial Review - ABIX via COMTEX) -- CEOPF | Quote | Chart | News | PowerRating -- The securities watchdog's legal action against Centro Properties Group could lead to higher expectations of non-executive directors in approving financial accounts. Freehills' Bob Baxt says Australian law does not specify that all directors have accounting expertise, and people would be deterred from acting on boards by such an expectation. Blake Dawson's Chris Goddard reveals that more non-executive directors are obtaining legal advice about their responsibilities due to the increase in regulatory proceedings.

Publication Date: 24 October 2009

CENTRO PROPERTIES GROUP - ASX CNP
JAMES HARDIE INDUSTRIES NV - ASX JHX
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION
BLAKE DAWSON
UNIVERSITY OF MELBOURNE
HARVARD UNIVERSITY.  BUSINESS SCHOOL
FREEHILLS PTY LTD
HSBC AUSTRALIA HOLDINGS PTY LTD
STOCKLAND - ASX SGP
For full details for CEOPF click here.

    


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