In accordance with their fiduciary duties to the organisation, directors have a responsibility to implement good governance. The board is expected to operate collegially. Each director brings to the boardroom their own particular skills, knowledge and experience, and has a duty to apply that skills, knowledge and experience. An effective board seeks to stimulate the flow of ideas, identify key issues, consider alternatives and make informed decisions.
Each year brings with it new corporate governance challenges and opportunities for Australian organisations, and 2017 was no exception. For 2017, the focus on corporate governance has been driven by high profile regulatory actions against leading companies, corporate scandals, shareholder class actions and increased scrutiny of executive remuneration.
An advisory board is a good choice where the family owners or the company need ongoing professional advice and contacts. This is especially the case when their own statutory boards of directors comprise only family members and perhaps a few non-family senior managers from the company. Nonetheless, establishing an advisory board is a major step for any family business. For those family businesses that are considering it, or those that have already done so, it is worthwhile discussing the value an effective board of advisers can bring.
After 22 years of organic growth to become Australia’s largest governance consulting practice, Effective Governance is excited to announce that we now have the ability to offer our clients the extensive legal services of HopgoodGanim.
We are pleased to announce that we are featured among ‘The 10 Most Valuable Consultant Companies’ in Insights Success magazine in the March-April 2017 edition. To read the article in Insights Success, click here.
Better Boards Conference 2017, Adaptive Directorship: Governing for the unpredictable, Brisbane, 28-30 July
The Better Boards Conference is the premier governance and leadership conference for leaders of Australasia’s non-profit organisations. The 2017 conference will be held in Brisbane from July 28 to 30 at the Brisbane Convention and Exhibition Centre.
In a recent article by Andrew Heaton for Nonprofit.news, James Beck discusses what he would expect to see on an NFP website to demonstrate governance and accountability to it's stakeholders. Click here to read the full article.
Effective Governance is delighted to welcome Melissa Grundy to the staff. Melissa has extensive governance experience having worked as a company secretary and with ASX-listed companies for many years. Melissa commenced her career in insolvency accounting, before moving to the Australian Stock Exchange (now ASX Limited), where she accumulated over 15 years’ experience addressing continuous disclosure, corporate governance and listing rule compliance issues, and participated in ASX policy development. She has worked as Company Secretary at Bank of Queensland Limited and on contract as Assistant Company Secretary at Caltex Australia Limited, both ASX-listed companies. Melissa is also a member of the Queensland State Council of the Governance Institute of Australia (GIA) and a guest lecturer for GIA. Welcome to the eG team Melissa!
Written documentation is essential for effective and consistent communication within organisations, and the provision of clear, written policies and procedures that reflect current practice and community expectations assists in accountability. Further, written policies and procedures provide tangible evidence of intended practices that are consistent with the organisation’s values, and should be regularly reviewed, evaluated and updated.
Actions speak louder than words, but unfortunately not nearly as often in corporate Australia. We are faced with an ever-growing trend to substitute the latest jargon, cliché, corporate speak and weasel words for action.