Already a subscriber?Corporate watchdog chairman Joe Longo has politely told C-suites to stop whinging about director duties because ultimately legal compliance and maximising profits go hand-in-hand.told an Australian Institute of Company Directors conference in Melbourne on Thursday.“Good directors run successful, profitable businesses. That’s not going to happen unless every director takes an active stance of curiosity and starts asking the right questions – to understand their business.
Fourth, are you challenging management to ensure your understanding is well-founded, and getting trusted professional advice? “And you’ll go a long way toward meeting the compliance challenges, and seeing past them to the opportunities and benefits.“The fundamental reality is if you’re acting in good faith and want to run a profitable business, and not fall foul of what’s expected of you in terms of the law, that’s hard work.”, using his speech to issue another clear warning to directors that ASIC was gearing up to act over failure to adequately prepare for attacks.
“But also, as with climate disclosure, if directors in general have to be more focused and deliberate about cyber preparedness, this should also shore up the cyber resilience of associated entities like third-party suppliers.“The point is that increased expectations don’t mean decreased profits or a meaningless list of endless tasks. They mean better business.”
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Source: 7NewsSydney - 🏆 16. / 63 Read more »