Director School Redux

Warwick Smith AM GAICD recently decided to refresh his knowledge, attending AICD’s Company Directors Course (CDC) some 15 years after he first took it.

Smith is a former federal minister and executive director of Macquarie Bank. His current board portfolio includes ANZ Bank (China) and chair of ANZ Bank (NSW and ACT) and the Australian Capital Equity advisory board.

“It was terrific to refresh my knowledge about governance, but the word I use to describe the course is ‘reflective’. You can actually take time during the five days to reflect and think more directly about governance issues and representing stakeholders.”

The basic of good governance hasn't changed

Smith says the basics of good governance have not changed over the past 15 years, but that the CDC was more intense because of a shift in scrutiny.

“The fundamentals of the law are the same, but there are greater expectations of directors today and a higher level of regulatory scrutiny from multiple perspectives.

“The pace with which listed corporations need to operate is under far greater scrutiny, which is a product of communication capability.”

Next up for Smith is likely to be international director education for his Asian regional boards, particularly ANZ China and Thailand.

“The AICD is more pervasive now than it was 15 years ago and it’s focusing offshore. I’m interested in that international governance perspective,” he says.