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Corporate Governance has gained wide importance after the unraveling corporate crimes reported widely in the Australian Continent as well as outside Australia. Cases like Enron and other high profile corporations along with the matters of Ponzi Schemes, Insider Trading, and many other such scams have demanded better corporate governance from these corporate lately. The Term Corporate Governance relates to the vital relationship between the investors or owners of the company and the directors or management of the company. The Fair Corporate Governance system is demanded by a wide range of stakeholders consisting of customers, employees, shareholders, Business partners, suppliers, and largely the community as a whole. Thus, what we can see that Corporate Governance is the essence of the fair reporting part of the corporations and essential duty of the management towards their stakeholders. (Khan, 2002)
CommBank is Australia’s Leading provider of integrated financial services which includes retail, premium, business and institutional banking, fund management, superannuation, insurance, investment and share broking products and services. The company is engaged in the banking activities and deals with wide array of services in its portfolio. The company reports on its Corporate Governance Responsibility annually every year in the annual reports and adheres with the ASX policies as well as the Accounting Board guidance. (Our Company, 2013)
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