An ethical question - for response please, page-117

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JCoure

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31/10/16

09:24

Post #: 20240306
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Originally posted by JCoure ↑

So the AAD Corporate Governance Statement was deficient? It did not state any of that, amusedobserver.

The way the media works down in Australia, there is an anyone to blame but Deborah Thomas (if it was David Thomas, the story would be much different, a David Thomas would have resigned by now) with the blame brigade happening.

BOQ Chair, Roger David, Chair of the CSR Committee responsible for Audit & Risk seems to have been pointed at in some business media over this weekend. BOQ went down 7.5% for the week including a heavy sell on Friday due to the reputational risk and audit questions. Does AAD have this CRO position of which u speak? Does BOQ?

It looks like AAD has failed due to poor risk management and risk profiling. It depends whose responsibility that is. Now that the Premier has got a crime called "gross negligence" for this type of thing supported by her party at their weekend conference, looks like this area will become a focus. They may not need PR experts after all but these regulatory liaison, risk and governance folk.

Insurance companies in Australia will make a sack full out of this, imagine the increase in premiums for every corporate with a piece of equipment that is remotely risky. Risk profiling will increase premiums on renewal considerably.

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Roger Davis is the Chair of CSR at AAD covering Audit and Risk and also BOQ Chair not Roger David which is a company that sells suits. Apologies for the error.

AAD Price at posting: $2.04 Sentiment: Sell Disclosure: Not Held
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