Parliamentary Joint Committee on Corporations and Financial Services Inquiry into Corporate Responsib
- Date:30 Sep 2005
- Type:Policy & Advocacy: Submission
In its submission to the Parliamentary Joint Committee on Corporations and Financial Services Inquiry into corporate responsibility, AICD strongly supports the concept of corporate responsibility. It argues that the Corporations Act should not be amended to impose an additional generalised social responsibility obligation on directors or companies. In fact, the Act does not prevent Australian companies or directors from taking into account the interests of all stakeholders in a way that is necessary to ensure that a company is successful and sustainable. AICD also argues that is inappropriate to mandate further corporate social responsibility based reporting requirements. By doing so we risk pre-empting the evolving international debate in this area.
AICD's CEO and Policy Committee chairmen appeared before the Parliamentary Joint Committee on 23 November 2005. Follow the link below to read the transcript of AICD's appearance.
Read the Transcript for 23 November 2005. AICD's appearance is recorded on pages 86-102 of the PDF.
The Committee's report was released on 21 June 2006.
AICD welcomed the PJC report in a media release on 21 June 2006.