Woodside Petroleum and New Zealand Superannuation Fund win top governance awards

Woodside Petroleum and New Zealand Superannuation Fund have taken out top honours for governance reporting in the coveted 2016 Australasian Reporting Awards (ARA).

According to Governance Institute of Australia’s chief executive Steven Burrell, “We are proud to have been associated with the ARA awards since 1988 in recognising organisations that disclose to their members and stakeholders how they practising governance and provide transparency of processes.

“This year, private sector winner Woodside Petroleum has delivered an exemplary report, which not only explains clearly the processes followed by them for determining director independence but also provides excellent coverage of Woodside’s diversity policy.

“The New Zealand Superannuation Fund took out top honours in the public sector category for a commendable and well-rounded report that scored well across all aspects of governance reporting, including accountability, transparency, integrity, stewardship and leadership”.

“Corporate Australia’s increased efforts to improve standards in all aspects of reporting is encouraging. Good governance enables an organisation to embed a culture that promotes and instils best practices throughout the entire organisation, which is essential for building investor confidence,” said Mr. Burrell.

Paul Pettingill, former Investor Relations Manager, Woodside Petroleum, accepted the award on behalf of the company.

Dee Radhakrishnan, Communications Advisor, and Catherine Etheredge, Head of Communications accepted the honour on behalf of New Zealand Superannuation Fund.

Established in 1950, the ARA awards were constituted to improve the standards of financial reporting in Australia. Governance Institute of Australia has supported the awards for 19 years by offering the Governance Reporting Awards, to recognise quality and completeness of disclosure in reporting on governance policies and procedures.

For further information contact Viv Hardy at CallidusPR on 0411 208 951951 or Steven Burrell on (02) 9223 5744 or 0407 708 485.

Note to editors

The reports entered for this Award were reviewed by a judging panel made up of Governance Institute of Australia members who are experienced governance professionals in the private and public sectors, many of whom also adjudicated on the 2015 Awards. 

Adjudicators considered how well entrants reported on their governance frameworks against a variety of factors, including how roles and responsibilities were established; how the board discharged its duties; what practices were in place to maintain and safeguard integrity in financial reporting; and how organisations managed issues such as risk and remuneration. 

About Governance Institute of Australia

Governance Institute of Australia is the only independent professional association with a sole focus on whole-of-organisation governance. Our education, support and networking opportunities for directors, company secretaries, governance professionals and risk managers are second to none.

MR 2016/12

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