Thus the Australian Government policy goals mainly depend on the remuneration practice, especially the engagement and voting activities of the companies. However this research proposal would demonstrate the shareholders' interest on developing an effective executive remuneration regime for directors and executives and identify an effective remuneration regime in Australia which is needed for development and transparency of the remuneration process and practice in a causal contingency framework of convergence/divergence.
Theoretical and conceptual frameworks on executive remuneration for directors of Australian companies and executives have been developed over the years to support efficiency hypothesis which invariably borders on the need to increase value of the firm in conformance with critical success factors. According to Chartered Secretaries Australia (CSA), directors and executive remuneration levels and structure have often been influenced by the existence of a variety of factors like community and political concerns, rules and regulations, code of practice and guidelines, market exchange rules and accounting standards. Under the section 9 of the Corporation Act defines remuneration of executive as "remuneration if and only if the benefit, were it received by a director of the corporation, would be remuneration of the director for the purposes of an accounting standard that deals with disclosure in companies' financial reports of information about directors' remuneration" (Australian Corporation & Securities Legislation, 2009). The remuneration to all the executives in an organization can be explained as the aggregate or sum of the payments receiving by all the executives including Directors, CEO, and Managers from a company or a corporation. Thus it consists of the normal payments to the executives such as basic salary, all incentives, bonus, shares and any other benefits such as allowances. Executive remuneration is a very important element of corporate governance and the level of benefits are determining by the board of directors. The determination of the level of the income of all these key individuals in accompany is a complex process to the