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Across the board KPMG's Audit Committee Institute publishes Across the board, a regular newsletter specifically for Australian directors. Across the board is published quarterly to alert boards and audit committee members to emerging issues relating to financial reporting, oversight of risk management and internal controls and evaluation of internal and external audit, and to significant changes in board and audit committee practices in Australia and internationally. The newsletter is distributed through KPMG offices. The ACI also distributes electronic copies of Across the board to directors and those who work closely with boards such as CEOs, general counsel, CFOs, company secretaries and internal auditors. Across the board is distributed electronically only at the direct request of a Director or officer. If you would like to be added to our electronic distribution list, please send an email to: aci@kpmg.com.au. Issue 2, September 2009 In this issue of Across the board we include a discussion around the lessons learned from the Global financial crisis in respect to risk management practices. We also explore executive remuneration in respect to the proposed new regulatory reforms. In addition we look at the risks surrounding public companies that have engaged in ‘rapid fire’ equity raisings. Finally we investigate proposed changes in accounting standards.
Issue 1, May 2009 Australian company boards currently have plenty to digest as the tougher economic environment appears to be here to stay for the foreseeable future. In this issue of Across the board we include a discussion of solvency and going concern issues as they affect company directors. We also review what directors need to do to prepare for the Australian Government’s planned emissions trading scheme. Including the recent changes to the proposed Carbon Pollution Reduction Scheme. In addition, we look at the increasing risk of fraud as economic conditions deteriorate.
Issue 3, December 2008 In this issue of Across the board we explore some of the key issues facing directors in the current volatile business environment. We also outline the business fundamentals directors should be focusing on in order to build strong, resilient organisations. In addition we examine the issue of executive remuneration which has recently become prevalent and pressing, we explore this in detail and suggest ways in which boards can regain control of this issue. We also provide an update on the Australian Government's tax reform agenda, popularly known as the 'Henry Review'.
Issue 2, September 2008 In this issue of Across the board we explore a different perspective on the climate change debate, that is, how to optimise and manage environmental risk, including ‘greening’ the supply chain. We refer to the findings of a global survey by KPMG and the Economist Intelligence Unit on this increasingly important area of risk management and what this means for boards. In addition, we look at how demographic changes are intensifying the struggle to attract and retain talented people. To win this battle we need to understand the behaviours, values and aspirations of the different generations and learn how to accommodate these in our management processes. We also offer our Top 10 board governance priorities for consideration and report on some key benchmarking data from the latest survey of audit committee practices in Australia and internationally.
Issue 1, May 2008 In this edition we examine what boards need to consider when dealing with a tougher more uncertain business environment. The impact of the US sub-prime mortgage crisis is examined along with the key issues that directors should be addressing in this volatile environment including governance, financial reporting and capital management. We also present the findings of a new KPMG study that considers the importance of reliable forecasting to improve business performance and value. With climate change moving up the political agenda, we examine some of the accounting and tax implications surrounding the introduction of the Australian emissions trading scheme. Finally we outline the ten to-do’s for Audit Committees in 2008.
Issue 2, August 2007 A poorly planned and executed disposal can destroy as much value as an ill-conceived acquisition, but how do boards avoid value leakage? Our first article in this issue of Across the board examines the challenges and looks at some of the common value-sapping issues that can sour a transaction. We also look at the governance challenge of private equity offers, and elsewhere we profile the role of the chief financial officer and ask whether the relationship with the board and board audit committee is all that it should be. Finally we consider the practicalities of establishing a tax governance system and the impact of the Simpler Regulatory System legislation or Red Tape reform.
Issue 1, May 2007 In this issue, we profile the business implications of climate change. Once a sleeper issue for many organisations, it is now becoming a critical issue for both individuals and businesses. To date few organisations have formalised responses and now is the time for boards to rethink their climate change agenda and the implications for strategic planning. We also examine the changing role of the chief financial officer and discuss how leading organisations are working to build a strategically focused finance and accounting function that can truly be considered a strategic partner to the business. Finally, we cast the rule over proposed and changing regulation from the Australian Taxation Office and Australian Securities Exchange.
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