Why do we apply different standards for those who lead our organisations to those whom they employ?
In 2016, I surveyed over 50 MD’s for a whitepaper. If you’d like a copy, visit here.
Interview question 1: Do you as an Australian MD of a foreign controlled entity consider you were adequately prepared or briefed on the corporate governance compliance accountabilities and liabilities facing a director before accepting the role?
‘Being part of a global organisation, I naturally assumed that everything would be in order in regards to governance. The overriding emphasis was on achieving budgets and adhere to monthly reporting, so in reality absolutely not’.
‘No, I accepted my role in (home country) and I learnt by doing. You must be self-motivated, but I did rely heavily on external consultants who instilled fear and prompted a response’
‘I did receive a handover from my predecessor however it was based on operational content and there was no OHS or director liability discussion’.
‘The company did not offer anything formalised however I requested to undergo the company directors course and they (eventually) agreed to my participation’.
‘absolutely not. If it weren’t for my extensive professional network, I would have been blind. I relied heavily on external expertise from my lawyer and accountant- sometimes daily consulting’.
If you are a company officer in Australia, I’d be interested in your experience. New survey is at found here