Corporate governance is the way in which a business is managed or controlled. At Brookfield good corporate governance practices form a fundamental part of our culture and our operations. For us, good corporate governance means optimising performance and having an effective environment to monitor, identify and manage business risks which arise from the implementation of our business strategy. The Boards regard good corporate governance as being of critical importance to all our stakeholders.
The Boards acquire their authority from the Corporations Act and the relevant Company Constitution. The objective of the Boards is to build long term shareholder value on a basis of good governance and performance.
Some of the Boards have delegated responsibility for oversight of corporate and scheme accounting and reporting practices, financial and accounting; and monitoring the integrity of the corporate and scheme data to a Board Audit Committee. The Committee exercises an advisory role only.
The Board Risk and Compliance Committee is responsible for oversight of the Responsible Entity’s compliance with the Corporations Act and Australian Financial Services licences. Please refer to the Annual Report of the listed entity for full disclosure of its corporate governance.