Volume 11 Issue 8

  • Date:01 May 2013
  • Type:Boardroom Report

Integrated reporting draft raises director liability concerns

There have been mixed responses from Australian directors to the Consultation Draft of the International Integrated Reporting Framework, with many concerned it could increase their liabilities.

The draft framework, recently released by the International Integrated Reporting Council (IIRC) through 15 events around the world, creates the foundations for a new corporate reporting model and introduces the concept of "six capitals" – a prism through which organisations should assess, and then report, the degree to which they are creating, diminishing or destroying value over time.

Directors worry about Government's business understanding 

The relationship between business and the Federal Government has further deteriorated, while growing regulation and red tape has become a major worry for directors, according to the latest Director Sentiment Index.

Class actions: what to expect in 2013 

A new report predicts interesting times ahead in 2013, with some of the largest natural disaster and public liability class actions yet seen due for trial in 2013 and rulings expected on the ability of companies and directors to have recourse to directors' and officers' (D&O) insurance proceeds ahead of class action claimants.

New migration laws introduce more liability for directors 

Company directors are being warned to stay vigilant when it comes to the employment of staff following amendments to the Migration Act 1958.

Collaboration and function trump prestige in boardroom relations 

When the chairman and CEO create "chemistry", they can allow the structure of their mandates to serve their relationship and the collaboration it generates. But when chemistry is lacking, the relationship must become the primary driver of both governance and growth.

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