Corporate governance is how a company is directed and managed. It influences how the objectives of the company are set and achieved, how risk is monitored and assessed, and how performance is optimised.
The Australian Prudential Regulation Authority (APRA) has issued Prudential Standard CPS 510 Governance, which sets out minimum foundations for good governance of regulated financial institutions, such as Qudos Bank. Its objective is to ensure that regulated financial institutions are managed soundly and prudently by a competent Board, which can make reasonable and impartial business judgements in the best interests of the institution and which duly considers the impact of its decisions on depositors.
Our directors and management are committed to high standards of corporate governance and with this in mind, have articulated and formalised the corporate governance framework within which Qudos Bank operates in a Board Charter. The Board Charter is a written policy document that defines the respective roles, responsibilities and authorities of the Board, both individually and collectively, and of Management in setting the direction, management and control of the organisation. As such, it establishes the guidelines within which the Directors and Officers are to operate as they carry out their respective roles. In setting these guidelines, Qudos Bank has had regard to the ASX Corporate Governance Principles and Recommendations to the extent that they are relevant to and appropriate for an unlisted public company with a mutual structure.
View our statement of principles:
You can view our statement of principles in the Corporate Governance Statement contained in our Annual Report