This approach is used to ensure that all necessary governance requirements can be met without the unnecessary duplication of effort and activity from resources.

Competing governance requirements have arisen, and each stakeholder in small organisations has concerns about governance:

Small voluntary organisations find themselves faced with four competing governance requirements:

"Before additional corporate governance requirements are legislated," it said, "the administration believes that recent enhancements should be given time to take effect."

AIM-listed companies usually are only required to adhere to the corporate governance requirements of their home jurisdiction, which, as a practical matter, vary widely.

The New York Stock Exchange did adopt modest governance requirements for listed companies.

Qantas Credit Union Directors are also committed to ongoing training to maintain knowledge of emerging issues and to satisfy all governance requirements.

Corporate governance requirements are intended to encourage the bank to be well managed, and is an indirect way of achieving other objectives.

"The recent increase in M.&A. activity reflects a return to confidence in the economy and to accommodation to the new accounting and corporate governance requirements."

The role is likely to grow in prominence as corporate governance requirements - in voluntary codes or law - grow and mature.