The AICD supports the current formulation of directors’ duties. We will lead a conversation in the director community and with stakeholders to test the understanding and application of the best interests’ duty in practice. We need to determine what elements and approaches make practice ‘fit for purpose’.

We will consult with stakeholders and practicing directors on proposals to enhance accountability including alternative models and ideas e.g. annual director elections, guidance on ‘over-boarding’

We will strengthen our Member Code of Conduct and clarify its application. We need to be clearer about the expectations of membership. We will update our Professional Development framework so that it reflects the standards of practice and ethics our members expect.

Ethical decision making sits at the heart of director practice. Boards must set the tone that misconduct is dealt with swiftly and visibly. We will take the lessons of the Hayne Commission and other inquiries into good practice principles for governance of culture and remuneration.