Telstra 2009 Annual Report Download - page 61

46
Telstra Corporation Limited and controlled entities
Corporate Governance Statement
Recommendation Please refer to the following sections of the Corporate
Governance Statement
Recommendation 4.3:
The audit committee should have a formal charter. 3See “Audit Committee”.
See also the Audit Committee Charter which is available
in full from our website.
Recommendation 5.1:
Companies should establish written policies designed to ensure
compliance with ASX Listing Rule disclosure requirements and to ensure
accountability at a senior executive level for that compliance and
disclose those policies or a summary of those policies.
3See “Market Disclosure”.
See “Telstra Values, Telstra Business Principles, Code of
Conduct and Other Company Policies”.
Recommendation 6.1:
Companies should design a communications policy for promoting
effective communication with shareholders and encouraging their
participation at general meetings and disclose their policy or a
summary of that policy.
3See “Shareholder Communications”.
See “Telstra Values, Telstra Business Principles, Code of
Conduct and Other Company Policies”.
See also the Shareholders Telstra Business Principle and
the Shareholder Communications Company Policy which
are available in full from our website.
Recommendation 7.1:
Companies should establish policies for the oversight and management
of material business risks and disclose a summary of those policies.
3See “Risk Oversight & Management”.
See also the Telstra Business Principles which are
available in full from our website.
Recommendation 7.2:
The board should require management to design and implement the
risk management and internal control system to manage the
company’s material business risks and report to it on whether those
risks are being managed effectively. The board should disclose that
management has reported to it as to the effectiveness of the company’s
management of its material business risks.
3See “Risk Oversight & Management”.
Recommendation 7.3:
The board should disclose whether it has received assurance from the
chief executive officer (or equivalent) and the chief financial officer (or
equivalent) that the declaration provided in accordance with section
295A of the Corporations Act is founded on a sound system of risk
management and internal control and that the system is operating
effectively in all material respects in relation to financial reporting risks.
3See “Risk Oversight & Management”.
Recommendation 8.1:
The board should establish a remuneration committee. 3See “Remuneration Committee”.
See also the Remuneration Committee Charter which is
available in full from our website.
Recommendation 8.2:
Companies should clearly distinguish the structure of non-executive
directors’ remuneration from that of executive directors and senior
executives.
3See the Remuneration Report which forms part of the
Directors’ Report.