The V8 Supercar series driver sustained massive head and internal injuries after his car hit a safety barrier at high speed on Saturday. He was treated immediately on site before being rushed to Royal Adelaide Hospital by ambulance.
CAMS President, Colin Osborne, said that Cooper's passing was something that would be felt by the entire Australian motor sport community.
"Firstly our thoughts and sympathies go to Ashley's family and friends, particularly his wife Casey and two children and parents Alan and Maree," said Osborne.
"It is always a very sad day when any member of the motor sport community is taken from us.
"The motor racing community involves a close knit group of competitors and officials and I know that everyone will be feeling the loss of Ashley.
"CAMS will conduct its own full independent investigation to determine the circumstances leading to the incident. In the mean time, CAMS and event officials are working with the relevant civil authorities to assist with their investigations."
CAMS Chief Executive Officer, Graham Fountain, praised the actions of officials immediately following the incident.
"We have to thank our Clipsal 500 Adelaide officials for their swift and professional actions as the loss of Ashley will no doubt have an effect on our many volunteers who work tirelessly at amateur and professional motor sport events around the country each weekend.
"Our extensive counselling and support services will be offered to Ashley's family and friends as well as to the competitors and officials involved in the event to help them though this tragic time."