Probably because one is not common sense; but given that the other is common sense, it just goes to show no-one has it right yet
Unlike Australia and the UK, the US lacks any common reference set of governance principles that act as a guide for good listed-company governance.
Recently, however, prominent US business leaders released a set of Principles that could well serve this purpose. In fact, they could serve as a useful checklist for Australian investors and boards as well. However, they differ from the ASX Corporate Governance Council’s “Principles” in important ways.
This article summarises the US leaders’ Principles. In most of these cases, Australian practice is already well established. However, in one case, we believe the US Principles add something that may not be captured in the Australian principles.
Read more.