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Content Type:
Media Release
03 May 2012
At a time when the international economy is focused on increasing business productivity, the Australian government has again prioritised conformance over performance by over-regulating the majority of directors to target the few engaged in fraudulent phoenix company activity.
In a submission to ...
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Content Type:
Policy Submission
27 Jan 2012
This submission is in response to the discussion paper, Proposed Amendments to the Corporations Act, released by the Federal Treasury, which deals with the dividends payment test in s254T: proposed amendments to the parent entity reporting requirements and changing the financial year of a company.
...
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Content Type:
Policy Submission
14 Dec 2011
This submission is in response to the International Integrated Reporting Council’s discussion paper, Towards Integrated Reporting, Communicating value in the 21st Century.
Our submission included amongst other things, the following comments about the development of Integrated Reporting:
(a) ...
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Content Type:
Policy Submission
30 Nov 2011
This submission responds to the call for comment from the International Accounting Standards Board (IASB) on their Agenda Consultation discussion paper that was released in July 2011. The Agenda Consultation seeks views on those financial reporting issues that should be on their agenda in the next ...
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Content Type:
The Boardroom Report
16 Nov 2011
Director pessimism grows, Australia urged not to squander its good fortune, Proposed Bill proves not so super, Weathering tough times, ASIC finalises guide on prospectuses,
Director pessimism grows
Over the past six months directors have become more pessimistic about current economic...
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Content Type:
Policy Submission
17 Oct 2011
This submission to the International Financial Reporting Standards Board is in response to the Exposure Draft Mandatory Effective Date of IFRS 9.
The submission agrees with the IFRS Board's proposal to extend the adoption date of IFRS 9 to annual periods commencing on or after 1 January...
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Content Type:
Policy Submission
16 Oct 2011
This submission is to the International Auditing and Assurance Standards Board on their consultation paper, Enhancing the Value of Auditor Reporting: Exploring Options for Change.
We noted amongst other things that:
The Consultation Paper proposed that elements of the audit r...
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Content Type:
Policy Submission
14 Jun 2011
This submission responded to ASIC’s request for comments on Consultation Paper 155 – Improving Prospectus Disclosure for retail investors.
Our submission supported clear, concise and effective prospectus disclosure but noted, among other things, that:
• the proposal for mandatory disclos...
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Content Type:
Policy Submission
12 May 2011
This submission is in response to the Australian Securities and Investments Commission's Consultation Paper, 'Disclosing financial information other than in accordance with accounting standards', released on 24 March 2011.
The submission expresses our concerns about developing these guideli...
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Content Type:
Policy Submission
30 Mar 2011
This submission to Federal Treasury sets out our views on the Discussion Paper 'The clawback of executive remuneration where financial statements are materially misstated', released by the Federal Government on 20 December 2010.
We noted our strong opposition to a mandated clawback provisi...
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Content Type:
General
24 Feb 2011
This submission sets out our comments on the strategy of the IFRS Foundation, including its mission, governance and its oversight of the IASB standard-setting process. It was lodged with the Trustees of the IFRS Foundation in response to its strategy review consultation document.
As Australia i...
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Content Type:
Policy Submission
27 Jan 2011
This submission to Federal Treasury sets out our views on the Exposure Draft of the Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Bill 2011 (“the Draft Bill”) and accompanying Explanatory Memorandum (PDF), released by the Federal Government on 20 December 2...
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Content Type:
General
19 Jan 2011
Australian
Auditing and Assurance Standards Board
Australian Accounting Standards Board
Financial Reporting Council
Institute of Chartered Accountants in Australia
CPA Online
KPMG's Audit Committee Institute
Internat...
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Content Type:
Director Q and A
04 Jan 2011
The audit committee plays a key role in assisting the board to fulfil its corporate governance and oversight responsibilities in relation to a company’s financial reporting, internal control systems, risk management systems and the internal and external audit functions. This Q&A covers who has a...
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Content Type:
Director Q and A
04 Jan 2011
Companies are required to comply with many provisions of the Corporations Act 2001 for financial reporting. This Q&A runs through the requirements for financial reports, the key documents required, financial statements, the Director’s Report and half year financial report.
The Corporations Ac...
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Content Type:
Director Q and A
04 Jan 2011
Companies have a legal responsibility to keep written financial records and to regularly report to members their financial performance and position. This Q&A suggests what questions to ask before approving financial statements.
Companies have a legal responsibility to keep written financial ...
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Content Type:
Director Q and A
04 Jan 2011
The CEO is the more senior executive in the organisation. The Managing Director is also the most senior executive but sits on the Board of Directors as well. This Q&A outlines the main aspects of the MD's/CEO's role and the differences between them as well as executive service agreements and del...
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Content Type:
Director Q and A
04 Jan 2011
Director remuneration is based a wide range of criteria including the size, nature and profitability of a company and the required time commitment. This Q&A suggests several Director remuneration surveys which provide a breakdown of director fees across director role, size of company, company tu...
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Content Type:
Policy Submission
02 Nov 2010
On 2nd November the Australian Institute of Company Directors made a submission to Treasury supporting section 205G applying not just to listed companies but also to listed entities. Although this might involve extra compliance costs for listed entities not otherwise required to report that informat...
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Content Type:
CDM Article
01 Sep 2010
No director can afford to ignore the exponential growth in social media. As
Nichola Clark
reports, it is reshaping how we do business and unleashing new business risks and opportunities.
Getting on top of social media
Social media is:
...