Sound Governance In a World of Distorter Pulses

Many of us can readily visualise ourselves as being a part of a world of myriad collisions. These collisions are numerous pinball-like complexities, of greater frequency, more unpredictable actions and activities, highly random surprises, and coated with a sense of urgency and pressing immediacy. In a nutshell our world is experiencing myriad ‘Distorter Pulses’. What …

Embracing The Future With Confidence “Future Shock”

Farhad Manjoo wrote in Portfolio. “Do we have an inability to deal with ever-faster change?” Manjoo’s article is a wonderful reminder of Alvin Toffler’s book, “Future Shock” which was published in 1970. It may be nearly 50 years on, but as each day passes, it seems there are further examples of “our collective inability to …

Continuing Focus on Culture and Performance

Professionally it makes sense to take time out from busy schedules to share thoughts and ideas with colleagues and thought leaders. Recently I spent a few days in Sydney at the Governance Institute of Australia’s National Conference. Mention was made at the reception welcome that each of us in our own way can contribute to …

Culture Needs Nurturing

CULTURE NEEDS NURTURING We are familiar with the recent issues involving CommInsure, Commonwealth Bank, which have been splashed across the tabloids and in the media generally for weeks. A fascinating article headed “Ethical culture should be nurtured” was written by Dr Benjamin Koh, the chief medical officer and whistle-blower at CommInsure, Commonwealth Bank. One of …

Responding to the Explosion of Uncertainty

Our governance work with Boards, Directors and senior executives continues to address the central challenge of how best to ensure that optimum use is being made of their time and contribution for the most valuable effect. Too often, it is assumed that there is a magic touchstone of agreed actions which can constructively motivate and …

Questions a Board Member should ask an auditor

`A good auditor helps us ask the right questions.` * This simple, yet powerful comment rings true of the type of relationship an organisation should have with not only their internal audit department or audit committee, but with their external auditors. Although the interaction between the auditors and the Board may be limited, it is …

The Henry Tax Review For The Nfp Sector

THE HENRY TAX REVIEW FOR THE NFP SECTOR There was great news for the Not for Profit (NFP) sector in the Federal Government’s release of the final report of the Australia’s Future Tax System Review and their initial response recently. The Government ruled out removing the benefit of tax concessions for the NFP sector, which …

Taxation of Foreign Earnings

IMPORTANT CHANGES TO THE LAW RELATING TO THE TAXATION OF FOREIGN EARNINGS In a major shakeup of the foreign earnings tax exemption that was previously in place, from 1 July 2009 foreign employment income earned by Australian resident taxpayers will in most cases no longer be exempt. Under the measures in the new legislation, the …

Being a Referee: What Are Your Obligations?

Do you remember the last employment reference you gave? Do you remember what you claimed to be true about that individual? Were your statements accurate? Now, the crucial question: have you ever considered that you can be liable for the contents of your reference? When giving a reference, being a referee or providing testimonial as …

Impairment of Assets

For the first time in many years, the value of an organisation’s assets may have fallen below the market value, and in some cases, below cost. Thus, it is essential that consideration is given to calculating the impairment of your organisation’s assets. Accounting Standard AASB 136 Impairment of Assets prescribes the procedures that any organisation …

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