Corp governance plan for RI

Corp governance plan for RI

SYDNEY (Dow Jones): The Australian Securities & Investments
Commission Friday signed an agreement with Edith Cowan University
and accounting firm PricewaterhouseCoopers to develop and deliver
corporate governance programs to regulatory and government
officials in Indonesia, Vietnam and the Philippines.

The project has been designed to "foster sound corporate
governance and improve the regulatory environment for the
prevention of corporate fraud," said ASIC Chairman Alan Cameron
in a statement. More specifically, it will help with the
development of laws to regulate the duties of directors and
define shareholder and creditor rights. Also, it will help
develop reporting and disclosure regimes at national and company
levels.

Poor corporate governance was a "major factor" in the recent
economic destabilization of the Asia Pacific region, Cameron
noted.