-
Content Type:
CDM Article
01 Aug 2007
Annual reports no longer have to be mailed out to each and every shareholder and can be published online instead. Domini Stuart reveals how these changes can provide opportunities to boost investor communications.
The brave new world of electronic reporting
On the evening of June 21, Parlia...
-
Content Type:
CDM Article
01 Aug 2007
Domini Stuart examines the pros and cons of applying International Financial Reporting Standards to small businesses – and finds mainly cons.
When big rules don’t work for small companies
The Australian Accounting Standards Board (AASB) has released Invitation to Comment ITC 12 Request fo...
-
Content Type:
CDM Article
01 Aug 2007
Gabrielle Upton goes in search of more meaningful ways to regulate small corporations.
When size matters
What is a small corporation? Unfortunately, the question does not have a clear answer. What is clear is that there is no uniform definition of a small corpor...
-
Content Type:
CDM Article
01 Jul 2007
Good but not good enough
Australia’s listed companies have continued to improve their corporate governance reporting, but still have some way to go, according to the findings of two recent reviews.
The first review, conducted by the Australian Securities Exchange (ASX), found that the overall report...
-
Content Type:
CDM Article
01 Jun 2007
Simplified shareholder reports
Word from Canberra is that a concept emerging from the Hon Chris Pearce’s initiatives has been given high priority: by the time you read this, a Bill which incorporates this idea may be in Parliament. This is to allow companies to publish their full annual report on ...
-
Content Type:
CDM Article
01 Jun 2007
An outline of some of the issues addressed by AICD’s policy department, committees and taskforces over the last month is given below.
Policy Update
Government support for AICD position on APRA
AICD welcomes the Federal Government’s decision in light of adverse industry comment to introduce...
-
Content Type:
CDM Article
01 Jun 2007
New end of year disclosures
All listed companies must now include an Operating and Financial Review (OFR) in their directors’ report. These were introduced as part of the CLERP 9 audit and corporate disclosure changes in 2004.
Prepare your company’s OFR with the needs of users in mind. It should b...
-
Content Type:
CDM Article
01 Jun 2007
There are few signs that the challenge posed to the public equity model by private equity firms is about to ease. Indeed, the emergence of private equity has exposed some weaknesses in the public company model and given birth to a new piece of business jargon – ‘governance arbitrage’.
Privat...
-
Content Type:
CDM Article
01 May 2007
Some of the issues addressed by AICD’s policy department, committees and taskforces over the last month are outlined below.
Policy Update
Treasury Review of Sanctions in Corporate Law
In March 2007 Treasurer Peter Costello announced a review to establish the extent to which sanctions under...
-
Content Type:
CDM Article
01 May 2007
Global markets: regulating for economic growth
As our global markets grow and become more liquid, members of the Australian financial system are increasingly carrying out their businesses on the international stage. Whether you are a director of a company, a regulator, a market participant or a fin...
-
Content Type:
CDM Article
01 May 2007
Setting high standards of corporate performance and governance benefits companies, the economy and the community. As Kevin Forde reports, a critical element in achieving these outcomes is for boards to adopt a process of rigorous evaluation of their performance and that of individual directors.
...
-
Content Type:
CDM Article
01 May 2007
The private equity tsunami
Waves of private equity have washed our shores before – I was a director of the buyout vehicle for Orlando Wines in the late 1980s. But a tsunami has hurled itself upon us in the last few months, with deals or possible deals of the scale of Coles Group and Qantas. Private...
-
Content Type:
CDM Article
01 Feb 2007
Governance principles and agency costs
Directors came into existence centuries ago when they were commissioned by shareholders to govern businesses as their agents, because shareholders could not come together regularly to make all the decisions. Economists subsequently developed ‘agency theory’ to...
-
Content Type:
CDM Article
01 Feb 2007
It is essential for all directors to regularly get exposed to new ideas and alternative approaches to business problems. The upcoming Company Directors Conference in Shanghai in May provides an intensive three day program covering topical current and future issues pertinent for all company directors...
-
Content Type:
CDM Article
01 Dec 2006
AICD is in the process of preparing a submission to the ASX Corporate Governance Council following the release of its draft Revised Principles document. This is also an opportunity for AICD members to make their opinions known on some important issues affecting Australian directors and businesses.
...
-
Content Type:
CDM Article
01 Nov 2006
Open disclosure
According to Leigh Warnick, a partner with Blake Dawson Waldron, the board of every listed disclosing entity must adopt and maintain an effective continuous disclosure system (CDS). A CDS must be tailored to suit an individual entity’s needs, but a best-practice CDS has four parts:
P...
-
Content Type:
CDM Article
01 Oct 2006
Corporate social responsibility (CSR) has become part of the business lexicon but what does it really mean? Helen McCombie canvasses a range of views and outlines some implications of CSR for directors.
Defining your social responsibilities
Corporate social responsibility or CSR is no longer a...
-
Content Type:
CDM Article
01 Oct 2006
Robert Elstone, Elizabeth Johnstone and Charles Macek argue that directors need to be courageous in encouraging management to adopt a long term strategic focus – and not focus entirely on short-term financial performance.
Some challenges for directors in short termism
In previous articles we c...
-
Content Type:
CDM Article
01 Oct 2006
Complying in the AGM season
The annual general meeting (AGM) season is fast approaching and I thought it an opportune time to mention a couple of important compliance issues for listed companies. ASIC will be looking closely at any trends or issues emerging from the 2006 AGMs by monitoring complain...
-
Content Type:
CDM Article
01 Jul 2006
Directors need to ask numerous probing questions of their finance team and auditors if they are to sign off with confidence on a company’s financial statements. Kevin Forde reports.
Do the numbers add up?
The introduction of the Australian equivalent International Financial Reporting Standard...