Fewer than half of Australia's biggest companies are following corporate governance "best practice", according to a survey.
Many resort to "boiler plate" disclosures where the information is almost meaningless and, in certain cases, even seems to parrot competitors' words.
This suggests that some efforts around corporate governance boil down to listed companies just ticking boxes.
According to the latest Grant Thornton Corporate Governance Reporting Review, companies give little away about their risks. It also found that 22 per cent of all company reports indicated the company had a board where independent directors were outnumbered.
This ran counter to ASX Corporate Governance Council principle 2.1, which says: "A majority of the board should be independent directors."
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