This Corporate Governance Statement was approved by the Board on 14 August 2018.
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 2018 (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), the Healthcare Wholesale Property Fund (HWPF), 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
Board management, oversight and structure
Outlines the Board structure and responsibilities which supports leadership, accountability and effectiveness:
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:
Safeguard integrity in corporate reporting
Outlines the role of the Board and the Board Audit Committee in maintaining the integrity of financial reporting and effective systems of internal controls:
Refer to Principle 4
|Respect the rights of Security holders
Describes how an open dialogue with Security holders is maintained:
Refer to Principle 6
Recognise and manage risk
Details how the Board oversees risk management for the Group:
Refer to Principle 7
Remunerate fairly and responsibly
Describes the remuneration arrangements for Directors and senior management and how these have been implemented:
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.