Welcome to Directions 2019: Navigating a New Order

Throughout 2019, corporate Australia has been busy navigating a new order and searching for its new recipe for trust.

In our 2018 Directions Report issued in March 2018, we reported on the emergence of building trust as a top priority for Australian companies and Boards, based on the increasing proportion of a business’ value residing in intangible assets (such as brand, market position, business systems and knowledge). We also commented on the impact of a trust deficit, and proposed our “new recipe” for trust.

Since then, and with the impacts of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry are still being felt, our 2019 Directions Survey reveals that corporate Australia continues to search for its new recipe for trust; the pursuit of which has been complicated by a wave of more activist regulatory intervention and enforcement actions, dramatic media headlines and pointed political commentary – generally focused on mistrust.

We explore these themes and more in this special edition of On Board, which unpacks the results of our 2019 Directions Survey.

Analysis of the Directions 2019 Survey results

Our experts bring you their analysis of the results of the 2019 Directions Survey.

Spotlight on...

Our experts explore in more depth some of the key issues for Boards and directors, and the current regulatory environment.

The new horizons of directors’ liability

As the dust falls on the corporate governance storms of the last year, new horizons have emerged for company director responsibility and liability. Will Heath and Cammie Teo reflect on the implications of these emerging issues.

ASIC’s endgame – understanding the regulator’s new thinking on compulsory powers

In response to criticism of its enforcement practices, ASIC has adopted a radically more aggressive approach. Tim Bednall & Yash Kumar unpack the implications for corporate governance and decision-making.

Confronting crises as a director or officer

Today’s companies and their Boards face a myriad of potential corporate crises or major incidents, and the digital news era leaves no room for error. Adrian Perkins, Andrew Gray & Mark Beaufoy discuss the risks and the critical importance of preventative measures and advance crisis planning.

Spotlight on the ACCC: Are there lessons ASIC and APRA could learn?

In the wake of the recent Hayne Royal Commission, the ACCC has not been subjected the same level of public scrutiny as ASIC and APRA. Sharon Henrick, Christpher Kok and Rebecca Mahony have identified four factors that will limit the extent to which ASIC and APRA could emulate the ACCC’s approach.

Spotlight on: Safe Harbour

The perception of Australia as a relatively “risky” place to sit on a Board is generally focused on the insolvent trading prohibition in section 588G of the Corporations Act 2001 (Cth) and how it interacts with general directors’ duties. Have we seen change since the 2017 reforms? Tim Klineberg and Paul Schroder explore this question.

Looking back

Revisit past Directions results and insights.

Directions 2018: The rise of the intangibles and a new recipe for trust

Trust has peaked as the most essential intangible asset of a business, and for CEO's, building trust is the top priority. However, in recent years, trust in all institutions has decreased.
Our experts explore how the concept of trust is affecting Australian companies and Boards.

Directions 2018: Results and insights from our recent Pulse Check survey

As a follow-up from our March 2018 report, we have checked in on what is currently top of mind for Boards and senior leaders in Australian business in a Directions ‘pulse-check’ survey, which we conducted in November 2018.

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