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

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.

Stakeholders

Duties and
stakeholders

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.

Accountability

Demonstrating accountability

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

Culture

Culture and
remuneration

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

Forward Agenda Actions – future steps

Standards

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. 
Stakeholders

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. 
Accountability

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

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.
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SHOWING 1 - 10 OF 12 RESULTS
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