Forward Governance Agenda member views at a glance

In April 2019 the AICD released a consultation paper on its Forward Governance Agenda – a program of work seeking to respond to current debates on governance practice and standards. Over 1,200 members responded to the consultation paper through an online questionnaire.

Standards and professionalism

Members support a revised AICD Member Code of Conduct with a focus on clear standards of practice, and increased Director Professional Development obligations.

Duties and

The AICD should lead debate on directors' duties, and engage with directors, stakeholders and legal experts on the best interests duty and increasing resources for members.

Demonstrating accountability

Only a third of members consider existing director accountability mechanisms to be 'adequate'.

Culture and

Culture is a high priority for directors. Members want practical guidance on the governance of culture and remuneration.

Forward Agenda Actions – future steps

Standards and professionalism

  • Commence a formal review of the AICD Code of Conduct, to include consideration of standards of governance practice and options for compliance frameworks. 
  • Revise the AICD’s Director Professional Development (DPD) scheme to require a focus on priority topic(s) as part of each 3-year DPD cycle. 

Duties and stakeholders

  • Refresh AICD resources on directors’ duties to reflect contemporary practice, within the current framing of the best interests duty. 
  • Support debate with greater stakeholder engagement and new research. 
  • New guidance on bringing stakeholder voices to the board. 
  • Increase the prominence of stakeholder views in AICD communications. 

Demonstrating accountability

  • Increase focus on stakeholder and community understanding of the role of the board and non-executive directors. 
  • Consider non-prescriptive guidance on board commitments. 
  • Further research annual director election models and impacts. 

Culture and remuneration

  • Develop new resources to support members in the governance of culture. 
  • Engage proactively on expectations on the governance of remuneration, promoting appropriate framing of the board’s role with stakeholders. 
  • Consider scope for good practice guide on governance of remuneration.

Ethics in the boardroom

Ethical considerations in decision-making underpin good governance.  

An evolving agenda

In March 2019, at the Australian Governance Summit, AICD chair John Atkin FAICD and I launched the AICD’s Forward Governance Agenda, a program of work responding to debates around governance standards...

Ethics in the Boardroom – A guide to decision making

In partnership with The Ethics Centre, the Australian Institute of Company Directors presents a guide for making ethical decisions in the boardroom.

What’s next for the AICD’s Forward Agenda actions?

After a year of governance practices in the spotlight, the AICD has released the results of its Forward Governance Agenda member consultation and set out the AICD’s actions and next steps. Over ...

Why your board should prioritise cultural transformation

A board that focuses on transforming and measuring culture could have better organisational performance, says Ken Boundy FAICD.

4 areas of focus on our Forward Governance Agenda

From culture to accountability, the results from AICD's Forward Governance Agenda consultation show the main areas of focus for the director community moving forward.

Board minutes in the spotlight

The importance of accurate board minutes came under the spotlight at the Financial Services Royal Commission, and governance professionals are now reviewing their minute taking practices to ensure the...

Governing organisational culture

Organisational culture is central to the quality of contemporary governance.

Leading the governance discussion

Over the past two months, the AICD has conducted a member consultation on our forward governance agenda.

Your Forward Agenda

At the Australian Governance Summit in March, AICD Chair John Atkin FAICD and I spoke about the AICD’s forward governance agenda.
1 2