Company Director Insights

Top insights for Australian company directors and boards

Topics

► Governance
► Management
► Strategy
► Risk
► Finance

Holding a position as a company director in today’s environment brings great responsibility. Strong leadership, ethical decision-making, inclusive governance, and financial nous are just some of the qualities executive and non-executive directors of today should exhibit in the boardroom.

BDO advisers have created a range of materials addressing topical issues for company directors and boards. This is a compilation of our best resources for Australian company directors under the pillars of governance, management, strategy, risk and finance.

Stay up-to-date on matters that may impact
on your organisation

► Governance

Directors slow to file for small business insolvency under latest reforms

Take up of restructuring for small businesses provided by the legislation enacted 1 January 2021 has been slow, but this may change now JobKeeper assistance has come to an end.

7 essential attributes of the future director

There is only one constant in the world – change. While some directors may have achieved successes in the boardroom with certain attributes, the endlessly changing world is now asserting demands for new attributes of future directors to meet tomorrow’s challenges.

The Psychology of Good Governance

Good Governance is essential for investors, shareholders and taxpayers to have confidence in the corporations, agencies and systems that underpin our society.

It's not just a numbers game: How boards should approach diversity

Diversity: It's a word that's on everyone's lips at the moment. From the smallest startup to the largest corporation, businesses are looking to improve the demographics of their workforce in order to better align with the world around them. However, true diversity remains elusive.

What is the right governance structure for my SME?

Under modern governance principles, there is a difference between the governance of an organisation and the operations of the business of the organisation.

► Management

How Australia’s boards can lead the return to work process

For boards to be successful at helping their organisation return to work, there must be a clear distinction between the roles of the board and management.

How culture influences organisations in times of uncertainty

Whether you design it or not, one thing is for sure - company culture will happen. It’s not enough to post value statements on the foyer wall, or add coffee machines, bean bags and ping pong tables.

Six steps to building great culture

Many business entities are aware that culture is important and that it influences every aspect of how a business performs (including staff conduct).

What boards need to know to improve remuneration policies

In the modern workplace, ongoing assessment of core business processes and policies is crucial to keeping up with digital transformation, employee expectations and industry best practices.

Enhanced Integrity Act – Avoiding Naming and Shaming

Enhanced Integrity Act – Avoiding Naming & Shaming

The ever-growing world of regulations and data matching means company directors must understand the legislation, adopt better governance and risk oversight, and avoid brand damage and director liabilities while continuing to meet skilled workforce needs.

► Strategy

What Directors need to do to align ESG with strategy and sustainable growth

Before the emergence of COVID-19, ESG was a focus of natural resources companies. When the pandemic hit, the initial reaction was to address the immediate needs for health and safety of staff and operations. However, companies have since refocused on long term ESG and sustainability strategy.

Embracing the value chain to cope with modern uncertainty

Operating models that were widely embraced only a few decades ago have proven inadequate to cope with present conditions. This gives directors a powerful incentive to find what's next for their organisations.

6 steps for business survival during COVID-19

So what steps can organisations take to help reset their business and not just survive, but thrive in a post-COVID-19 Australia?

10 steps to innovate your business model

Businesses operating in Australia have an “incredible opportunity” to evolve their business models and should not cut back on their innovation budgets, warns Tanya Titman, Head of Strategic Innovation at BDO Australia.

Culture, leadership and the role of the board in the COVID-19 recovery

The initial reaction of businesses to the COVID-19 crisis saw very different responses. Key aspects to business response were leadership style, core values and organisational culture.

How Industry 4.0 will transform Australian business in 2020

he Fourth Industrial Revolution, ‘Industry 4.0’ is characterised by the interconnected relationship between technology, data and people – the more data businesses can collect, interpret and leverage, the better they can drive effective decision making.

What’s next? Your digital recovery roadmap

Major disruptions this year have enforced a clear shift upon Australian organisations. Whether it be the impacts of catastrophic bushfires or the current COVID-19 global pandemic, most Australians have had to adjust how they work.

► Risk

Are you ready for the changes to fraud and corruption control?

A new Australian Standard AS8001:2008 - Fraud & Corruption Control was released on 11 June, 2021. This Standard is considered the benchmark when it comes to how organisations can mitigate fraud and corruption risks.

Resetting an effective risk culture

With the experiences of 2020 and the COVID-19 pandemic affecting companies' high-level thinking, businesses are revisiting their risk profiles and risk appetite statements and there’s been a noticeable shift in the focus on culture at the heart of all risk discussions.

Global Risk Landscape 2020

The fifth annual BDO Global Risk Landscape Report explores insights from more than 500 C-suite executives and senior risk experts globally on how reputational risk is perceived and managed in 2020 and beyond.

What do boards need to know about risk appetite?

The level of risk a business is prepared to seek or accept is known as risk appetite (as distinct from risk management, which is the process of identifying, assessing, prioritising and minimising risks).

Can you measure and dissect your organisation’s risk culture

Risk culture is a complex, forward looking and qualitative component of an organisation, requiring unique approaches.

Seven questions directors need to ask about cyber

In this digital age, cyber-security is an important area of risk for boards. But directors need to ask management the right questions in order to track exposure to risk in this area.

Cyber Security in 2020: Myths versus reality

In our digitally-driven society, cyber security is an essential element in ensuring both data integrity and privacy. Nearly every organisation is going through some form of digital transformation to enhance data access, increase the speed to market, and reduce operational expenses.

► Finance

Critical reporting risks boards should consider when reviewing financials

Insights from BDO’s recent Financial Reporting Risk Review show that of the major concerns currently facing organisations across corporate Australia, cash flow is the most pressing financial reporting risk.

Safe Harbour – Could your business be eligible during these difficult times?

While our community grapples with the social impact of COVID-19, there will also be an inevitable financial impact for many businesses as supply chains are cut off, customers alter purchasing decisions and revenues fall while overheads continue to accrue.

How do we achieve holistic tax reform?

Over the past decade, Australia has made minor tax reforms such as tightening up thin capitalisation rules and getting rid of the investment allowance. These progressive attempts to broaden the base have resulted in increased revenue being raised but that revenue has not been used to reduce tax rates.

Ensure your company's tax governance framework is in good working order

With the ATO’s continued focus on corporate tax governance for directors, BDO Partner, Dr Mark Pizzacalla overviews ATO expectations and outlines how directors can ensure a rigorous tax governance framework.

Why financial understanding is critical when you’re a non-financial director

There is a misconception that to be a director, you must have an in-depth understanding of financial reporting; this is not the case.