Keeping Good Companies articles from July 2007

Keeping Good Companies archives from July 2007

New principles for company law.(Key Issues: APPLIED CORPORATE GOVERNANCE)
July 1, 2007... The success of business in modern society depends on not only the ethics of individual executives and managers, but on the legal framework that empowers and constrains the corporation itself. For businesses to flourish in a sustainable fashion,...

The active use of enforceable undertakings by ASIC--Part 2.(NEWS AND VIEWS)(Corporations Act 2001)(Enforceable undertakings)
July 1, 2007... Enforceable undertakings (EU) are an important enforcement tool that is at the disposal of ASIC to help encourage companies to comply with the Corporations Act 2001. In Part 1 (Keeping good companies, June 2007) of this article we discussed the...

Does better corporate governance result in lower earnings management?(Key Issues: COMPANY SECRETARY)
July 1, 2007... * High standards of corporate governance in Australia * Further improvements to corporate governance not likely to reduce earnings management * Separation of roles of CEO and Chairman is the main factor associated with constrained...

New sanctions in corporate law--are business leaders running scared?(Professional Updates: CORPORATE LAW)
July 1, 2007... * Conformance at the expense of performance? * Treasury review suggests reserving criminal sanctions for serious breaches * Proposed general defence for directors The threat of criminal and civil sanctions weighs heavily on most...

Counting the options for CEOs.(NEWS AND VIEWS)(chief executive officers)
July 1, 2007... The use of option plans has long been favoured as a cost effective tool for rewarding senior employees, particularly those at executive level. Recent media speculation, however, has brought the use of option plans into question. Headlines such...

Contrasting WorkChoices with Labor's IR policy.(Professional Updates: EMPLOYMENT LAW)
July 1, 2007... * Labor proposal to consolidate employment-related authorities * Opposition safety net sets out proposed employment and awards standards * Conditions for good faith bargaining and unfair dismissal claims * Government tables bill to...

Climate change litigation--stormy weather?(Professional Updates: ENVIRONMENT LAW)
July 1, 2007... * It may only be a matter of time before private law climate change actions are instituted here * It is likely to be hard to establish that the emissions of a single defendant are significant enough to be regarded as having caused the...

Thou shalt not covet thy relationship with external advisers.(NEWS AND VIEWS)(corporate relations)
July 1, 2007... Corporate governance guides the mechanisms by which corporations are directed and controlled and ensures those who direct and control the corporation are monitored and supervised. The recent Ingot Capital Investments Pty Limited & Ors v...

Using good business planning to ensure good governance.(NEWS AND VIEWS)
July 1, 2007... Good corporate governance does not just happen, and neither does good business planning. Many businesses recognise the importance of both, but in today's fast paced business environment, such key business requirements can get overshadowed by...

AML/CTF--more than a 'compliance issue'?(NEWS AND VIEWS)(Anti-Money Laundering and Counter Terrorism Financing Act 2006)
July 1, 2007... As with the arrival of any new legislation, most compliance departments in affected entities are focused on the Anti-Money Laundering and Counter Terrorism Financing Act 2006, what it will mean for their organisation and how they will implement...

High performance environments: considering the 'place' in 'workplace'.(Professional Updates: MANAGEMENT)
July 1, 2007... * Make your workspace an advertisement for prospective employees * The quality of a workplace can affect workers' productivity * Planning and integration of IT systems are critical * Every industry and business is different--don't...

Holding corporate leaders responsible.(RISK MANAGEMENT)
July 1, 2007... * It has been hard to establish senior management at large companies are at fault when things go wrong * A suggestion to look at responsibility in terms of outcomes rather than fault * Community conferences as possible penalties ...