Boards are dealing with an unprecedented level of community expectation, scrutiny and regulation. But in part, this is because of their own performance.
The review of Westpac’s board governance in relation to the bank’s AUSTRAC scandal will sit nicely on the shelf next to the royal commission’s final report, APRA’s governance review and the report from the prudential inquiry into Commonwealth Bank’s board.
But while the detail of the root causes of Westpac’s failings is fascinating, the document is also notable for the musings of authors and experienced directors Ziggy Switkowski, Kerry Schott and Colin Carter, on the gap between what directors can reasonably be expected to achieve, and what the community expects of them.
Loading...
James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
