Jb Hi-Fi's Corporate Governance Structure
JB Hi-Fi 's corporate governance structure
Effective corporate governance structures encourage companies to create value, through entrepreneurialism, innovation, development and exploration, and provide accountability and control systems commensurate with the risks involved.
Electronics retailer JB Hi-Fi, as a publicly listed firm, sees affective corporate governance as critical factor to achieving corporate goals and increasing the company 's value. JB Hi-Fi 's corporate governance structure separates management and supervisory functions into two distinct bodies: The Board of Directors and The Audit and Risk Management committee.
The board carries out the duties in regard to the interest of the companies’ shareholders, staff, customers and the community in which it operates.The Board can establish and empower committees of the board to assist in its functions, it is also responsible for overseeing the business and affairs of the company, another function the board exercises a lot is communicating with the company 's shareholders at the appropriate times. In carrying out its duties, the Board will operate in a manner reflecting the company 's values and in accordance with its agreed Corporate Governance Documents, the Company’s Constitution, the Corporations Act and other applicable laws and regulations (JB Hi-Fi, 2011, Board Charter). JB Hi-fi currently has eight directors on its board which seven of them are non-executive directors.
Compared to the board, the Audit and Risk Management committee took upon more responsibility of supervising the board in fulfilling its oversight of the reliability and integrity of financial management and more important, advising the board on the matter of internal control including financial statements, due diligence, financial systems integrity and risk management (JB Hi-Fi, 2011, Audit and Risk Management Committee Charter ). Overall, the existence of ARM Committee is to ensure the entity has complied with all
Effective corporate governance structures encourage companies to create value, through entrepreneurialism, innovation, development and exploration, and provide accountability and control systems commensurate with the risks involved.
Electronics retailer JB Hi-Fi, as a publicly listed firm, sees affective corporate governance as critical factor to achieving corporate goals and increasing the company 's value. JB Hi-Fi 's corporate governance structure separates management and supervisory functions into two distinct bodies: The Board of Directors and The Audit and Risk Management committee.
The board carries out the duties in regard to the interest of the companies’ shareholders, staff, customers and the community in which it operates.The Board can establish and empower committees of the board to assist in its functions, it is also responsible for overseeing the business and affairs of the company, another function the board exercises a lot is communicating with the company 's shareholders at the appropriate times. In carrying out its duties, the Board will operate in a manner reflecting the company 's values and in accordance with its agreed Corporate Governance Documents, the Company’s Constitution, the Corporations Act and other applicable laws and regulations (JB Hi-Fi, 2011, Board Charter). JB Hi-fi currently has eight directors on its board which seven of them are non-executive directors.
Compared to the board, the Audit and Risk Management committee took upon more responsibility of supervising the board in fulfilling its oversight of the reliability and integrity of financial management and more important, advising the board on the matter of internal control including financial statements, due diligence, financial systems integrity and risk management (JB Hi-Fi, 2011, Audit and Risk Management Committee Charter ). Overall, the existence of ARM Committee is to ensure the entity has complied with all