ASIC’s Corporate Governance Taskforce, which has been examining in detail the governance practices in a selection of large financial and non-financial entities, is expected to release the first of its reports early this month. It will be a significant moment for governance in Australia. We anticipate it will set new expectations and benchmarks in the key area of board oversight of non-financial risk — an increasingly important area for directors.
The report’s release is well-timed for discussion at the AICD’s Essential Director Update, which commences its national roadshow in a few days’ time. In capital cities, Graham Bradley AM FAICD will deliver the keynote, covering the latest developments in directorship. This year’s update includes discussion of remuneration and non-financial risk, as well as the sharpened focus on the board’s role in shaping corporate culture, the regulators’ new approach to litigation, directors’ duties and stakeholders, the availability of D&O insurance, whistleblowing policy, and how all of these changes are impacting not-for-profit boards.
The Essential Director Update is central to the vision and mission of the AICD. It equips you and your fellow members with the knowledge to best fulfil your roles, helping you understand your obligations and address the expectations of stakeholders.
When we ask members what you most value about membership of the AICD, the Essential Director Update is consistently high on the list. More than 8000 AICD members were already registered for the events at time of printing. It is testament to your commitment to the AICD mission — to building your capability as directors — that so many of you have registered for the update.
The lively Q&A sessions at the events are a chance for us to hear from you on the Forward Governance Agenda and the activities of the Institute. The Forward Governance Agenda touches on many of the questions Graham will ask in his keynote and we are looking forward to updating you on its progress since we announced the initiative at the Australian Governance Summit earlier in the year.
It is part of our commitment to the accessibility of our services and building the AICD community that the Essential Director Update is also held in regional centres and available online through a webinar. The regional events will be presented by a team of experienced directors and governance experts — Sarah Cobb GAICD, Marion Macleod FAICD and David Shortland MAICD. We will also make available to all members the Essential Director Update 2019 Handbook, which is a comprehensive collection of articles related to the themes of the event.
It is thought-provoking pre-reading for attendees and also a useful guide to directorship for the current year.
Beyond the formal presentation, the Essential Director Update is when our community comes together. Please take the opportunity to meet your fellow members, network, share your ideas and forge connections. There is still time to register for the events. If you have not yet, I encourage you to do so by clicking here.