AICD and the Governance Institute explore the impact of the pandemic on board practices and how the lessons learnt throughout the crisis can help boards future-proof their governance practices.
Almost every aspect of our lives has been disrupted by COVID-19, and the boardroom has been no exception. Boards have changed the way they operate, their focus, and how they govern. To capture these shifts, the AICD and Governance Institute of Australia have partnered to produce a new report that takes an in-depth look at the impact of the pandemic on board processes and how the learnings from the crisis can help boards improve their governance practices.
LESSONS FROM THE PANDEMIC
With input from directors and company secretaries across a range of sectors, the Governing Through a Crisis report identifies key learnings and recommendations to help organisations ensure they are better prepared for future crises.
The report looks at:
The foundations that must be in place for the board and company secretary to add value in a crisis;
Effective crisis and continuity planning – what it looks like in practice;
The impact and future of virtual meetings; and
How the pandemic has changed the way boards engage with stakeholders.
RECOMMENDATIONS ON THE PATH FORWARD
To help organisations develop stronger resilience and navigate their way out of the pandemic, the report also offers:
Recommendations that address each of the key learnings;
Practical tips to help boards operate and govern in the new environment;
Insights from prominent directors; and
Case studies exploring the virtual and hybrid AGM experience.
HOW TO USE THIS REPORT
The intention is for boards, management and other governance and risk professionals from across all sectors to use this report to reflect on the learnings from this devastating situation and ensure their governance practices are fit for the future.