Good Corporate Governance

The Melbourne press this weekend has been abuzz with the story of, and alleged reasons for, the sacking of the Principal of Methodist Ladies College.  It isn’t appropriate to pass judgement on the matter without the full facts however the stories indicate that the Board of MLC were not in full possession of facts on all the operational matters of the school.

Last year the judgement in the Centro case (CESept2011e-bulletin) specified that Board members do not need to be financial experts but do need to be able to understand financial reports and also that Board members should familiarise themselves with operational matters.

Compliance Essentials is available for governance support and mentoring; contact us on 1300 602 800 or via our website www.complianceessentials.com.au

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