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Latest Case

Providing strategic advice on expansion structures November 16, 2018

Founded in Bondi Beach in 2012, Bailey Nelson has rapidly grown into a global eyewear retailer and service provider with boutiques in Australia, London, Canada and New Zealand. The strong demand for their products and … Continued

Latest News

Maddocks advises US tech company on ASX listing November 14, 2018

Wednesday 14 November 2018 Law firm Maddocks is advising US-based technology company Revasum on its IPO and listing on the Australian Securities Exchange (ASX). The prospectus for the semiconductor manufacturer based in California went live … Continued

Latest Article

The Meriton Rating Appeal – when ‘for residential accommodation’ means being capable of providing residential accommodation November 16, 2018

On 14 November 2018, judgment was handed down by the New South Wales Supreme Court, Court of Appeal on whether a commercial land owner was entitled to recover rates, levied and paid, during the construction … Continued

Environmental Management Systems: what boards can learn from the Banking Royal Commission

In Australia, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has exposed remarkable failures in risk management, compliance and culture that have claimed the careers of a number of senior managers and directors and seen the threat of litigation. The underlying issues are not unique to the world of finance.

Management systems, including environmental management systems, are multifaceted systems in which people operate. One weakness may undermine the effectiveness of the whole system. For organisations struggling with repeated incidents and near misses, it is tempting to think that there needs to be a focus on one thing. Often that one thing is the rhetoric of ‘zero tolerance’ compliance. Often it is training. Sometimes it is culture. At the time of writing, the newspapers are carrying headlines such as ‘coaching is the key’ in response to the Banking Royal commission.

Partner and Chairman, Patrick Ibbotson shares his detailed summary on Environmental Management Systems: what boards can learn from the Banking Royal Commission.

 

AUTHORS
  Patrick Ibbotson | Partner
Tel +61 2 9291 6169
E patrick.Ibbotson@maddocks.com.au

In Australia, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has exposed remarkable failures in risk management, compliance and culture that have claimed the careers of a number of senior managers and directors and seen the threat of litigation. The underlying issues are not unique to the world of finance.

Management systems, including environmental management systems, are multifaceted systems in which people operate. One weakness may undermine the effectiveness of the whole system. For organisations struggling with repeated incidents and near misses, it is tempting to think that there needs to be a focus on one thing. Often that one thing is the rhetoric of ‘zero tolerance’ compliance. Often it is training. Sometimes it is culture. At the time of writing, the newspapers are carrying headlines such as ‘coaching is the key’ in response to the Banking Royal commission.

Partner and Chairman, Patrick Ibbotson shares his detailed summary on Environmental Management Systems: what boards can learn from the Banking Royal Commission.

 

AUTHORS
  Patrick Ibbotson | Partner
Tel +61 2 9291 6169
E patrick.Ibbotson@maddocks.com.au