The CPA Australia Asia-Pacific Governance Survey

Our Asia-Pacific Governance Survey is the first of its kind to explore a wide range of market and corporate governance issues across eight markets – Australia, China, Hong Kong, Indonesia, Malaysia, New Zealand, Singapore and Vietnam.

The survey provides a snapshot of the views of more than 1200 stakeholders, split between shareholders, professionals and business owners, and management executives across the eight markets, providing a high level of comparison data between them.

Key findings

There are some interesting differences in the key findings across the different jurisdictions. Overall, the comparison table below shows:

  • Political interference is seen to be more problematic in China and Malaysia and less of a problem in Hong Kong, Singapore and Vietnam. 
  • Accountability and transparency is considered more of an issue in China, Malaysia and New Zealand and more effective in Indonesia, Singapore and Vietnam. 
  • Corruption and fraud is viewed to be a significantly bigger issue in China, Indonesia, Malaysia and Vietnam.
  • Laws and regulations are considered more positively in Indonesia and Singapore and more negatively in Malaysia and New Zealand. 
  • Perceptions around shareholder protection are more positive in Indonesia and more negative in Australia and New Zealand. 
  • Reporting standards are viewed more negatively in China and New Zealand and more positively in Indonesia. 
  • Perceptions around auditing standards are more negative in Australia, China and New Zealand and more positive in Hong Kong and Indonesia. 
  • Company compliance is viewed more negatively in China and Malaysia and more positively in Indonesia.

Governance index scores by market

Governance survey

How to read this table

The yellow highlighted areas show where a market’s perceptions are significantly more positive than other markets surveyed.

The light brown highlighted areas show where a market’s perceptions are significantly less positive than other markets surveyed.

The numbers represent an index score between 0 and 10. In the yellow shaded areas a higher score shows that respondents are more positive. In the light brown shaded areas a lower score shows that respondents are less positive.

For example, reading down the table, Indonesian respondents are the most optimistic of all markets when surveyed on accountability, laws and regulations, shareholder protection, reporting standards, auditing standards and company compliance.

Laying the ground work for further surveys

The intention of the Asia-Pacific Governance Survey is not to create a league table of nations but rather to take a snapshot of perceptions of corporate and market governance to inform policy makers and market participants alike.

While the survey results reveal some major differences at the market level, it’s important that these are understood in relation to the local environment, political landscape, size and scope of the markets involved, and the maturity of the respective stock exchanges.

We trust this first Asia-Pacific Governance Survey provides the basis for further evaluation by policy makers and regulators alike and lays the groundwork for a further, longitudinal study into future trends in market and corporate governance throughout the region.

We look forward to being a leader in those discussions.