A major new report has found that Australia’s boardrooms are being transformed with greater gender balance for some organisations at board level, growing levels of qualifications among newer board directors, and an increasing awareness that a more diverse board is good for business. But as the report confirms, there is also plenty of room for improvement.
Almost 40 per cent of businesses are not regularly testing their risk and crisis plans, a nationwide survey of almost 400 governance and risk professionals and senior executives has found – a major risk that has been further exposed with the onset of COVID-19.
The Governance Institute of Australia has welcomed Treasurer Josh Frydenberg MP’s announcement that the Corporations Act will be amended to allow virtual AGMs, electronic execution of documents by company officers and providing notices of annual general meetings for a six month period from 5 May 2020.
The regulatory, economic and business response to COVID-19, privacy risks and the emerging issues for governance and risk professionals will be among the key topics put under the microscope at the Virtual and Governance and Risk Management Forum.