The corporate governance disclosures at TFS (Quintis) from 2015 to 2017 reveal that the company adhered to most of the ASX principles of corporate governance. Yet the spectacular demise of TFS (Quintis) suggest that corporate governance failed. Discuss whether compliance with the ASX principles ensures a company is well governed.

(ii) Discuss how failure of the board of directors (principles 1 & 2) and failure of the ethical culture (principle 3) at TFS (Quintis) contributed to the demise of the company. Students should review the corporate governance disclosures at TFS (Quintis).from 2015 to 2017.