This Corporate Governance Statement was approved by the Board on 15 August 2017.

The following reconciliation of the ASX Corporate Governance Principles & Recommendations - Third Edition (ASX Principles) against Dexus’s governance framework discloses how Dexus met each of the ASX Principles during the financial year ended 30 June 2017 (Reporting Period).

Dexus Funds Management Limited (DXFM) is the Responsible Entity of each of the four trusts that comprise Dexus. DXFM, along with other responsible entities in the Group, is also responsible for management of the Group’s third party funds.

The Board implements a corporate governance framework that applies to all DXFM funds, the Dexus Wholesale Property Fund (DWPF), capital partner investments and mandates.

The Board believes that good corporate governance supports:

  • A culture of ethical behaviour resulting in an organisation that acts with integrity
  • Improved decision making processes
  • Better controls and risk management
  • Improved relationships with stakeholders
  • Accountability and transparency

Corporate Governance StatementPDF

Governance dashboard

Board management, oversight and structure

Explains Board structure and responsibilities which supports leadership, accountability and effectiveness:

  • Board and Board Nomination Committee responsibilities
  • Director appointment process
  • Group Management Committee responsibilities
  • Diversity
  • Board evaluation and performance review
  • Structure of the Board Committees
  • Independence of Directors
  • Board skills matrix

Refer to Principle 1 and Principle 2

 

Act ethically and responsibly and make timely and balanced disclosure 

Provides details of how the Board and management maintain integrity and meet continuous disclosure obligations:

  • Codes of conduct
  • Dealing with conflicts of interest
  • Continuous disclosure
  • Securities trading

Refer to Principle 3 and Principle 5

     

Safeguard integrity in corporate reporting

Explains the role of the Board and the Audit Committee in maintaining the integrity of financial reporting and effective systems of internal controls:

  • Structure of the Board Audit Committee
  • Role and responsibility of the Board Audit Committee
  • External audit function

Refer to Principle 4

  Respect the rights of Security holders

Describes how an open dialogue with Security holders is maintained:

  • Annual General Meeting
  • Stakeholder communication

Refer to Principle 6

     

Recognise and manage risk

Details how the Board oversees risk management for the Group:

  • Role and responsibility of the Board Risk Committee
  • Risk management including the Risk Management Framework and the Risk Appetite Statement
  • Internal audit function

Refer to Principle 7

 

Remunerate fairly and responsibly

Describes the remuneration arrangements for Directors and senior management and how these have been implemented:

  • Role and responsibility of the Board People & Remuneration Committee
  • Remuneration report

Refer to Principle 8           

The framework adopted by Dexus meets the requirements of the ASX Principles and addresses additional aspects of governance which the Board considers important.