×

Title:

Delivery of focused corporate governance training by the Australian Institute of Company Director's to the newly formed Tuna Australia Ltd board representing stakeholders of the Commonwealth managed Eastern Tuna and Billfish Fishery

Project Number:

2016-414

Organisation:

Tuna Australia Ltd

Principal Investigator:

David Ellis

Project Status:

Current

FRDC Expenditure:

$12,800.00

Program(s):

People

Need

TUNA AUSTRALIA (TA) is a newly formed industry association representing statutory fishing right owners, holders, fish processors and sellers, and associate members associated with the Eastern tuna and billfish fishery operating on the east coast of Australia. TA has a board and a CEO to collectively ensure ecological sustainable development of the industry; improve resource access and property rights, profitability and safety and workplace development; enhance market opportunities and extend industry practices to stakeholders and the general public. TA aims to advance, promote and represent the industry’s views in dealings with governments of state and commonwealth, media, corporations and organisations, and all persons nationally and internationally. To achieve these objectives and to maximize board member’s time it is very important that the TA board understands and follows sound corporate governance processes. This EOI seeks funding to deliver a 1 day course on corporate governance training delivered by the Australian Institute of Company Directors to board members (Directors and Alternate Directors) prior to a board meeting.

Objectives

1. The role of the Director and the board covers: The role and relationships of the board; Who is a director; How boards do their job – corporate governance; Directors’ duties and responsibilities; Appointment, conduct and removal of directors; Rights of directors.

2. Introduction to Board meetings and governance covers: The role and composition of the board; Boards in action; Evaluating and improving board performance; Making an informed decision in joining a board

Delivery of Focused Corporate Governance Training by the Australian Institute of Company Director's to the Newly Formed Tuna Australia Ltd Board Representing Stakeholders of the Commonwealth Managed Eastern Tuna and Billfish Fishery

Final Report
ISBN:978-1-945604-04-1
ISSN:
Author(s):David Ellis
Date Published:October 2017
TUNA AUSTRALIA is a newly formed industry association representing statutory fishing right owners and holders, fish processors and sellers, and associate members associated with the Eastern and Western Tuna and Billfish Fisheries of Australia.
Tuna Australia has a board and a CEO to collectively ensure ecological sustainable development of the industry; improve resource access and property rights, profitability and safety and workplace development; enhance market opportunities and extend industry practices to stakeholders and the general public. 
Sound corporate governance embraces a good board culture and sound strategic process to achieve successful outcomes.  As Tuna Australia is a newly formed board an opportunity existed to expose board members to education and training emphasizing these two points.
A 1-day workshop was designed in partnership between the Australian Institute of Company Directors and the CEO from Tuna Australia to deliver focused training in the areas of: The role of the director and the board, and Introduction to board meetings and governance.  Ms Tracy Matthews (FAICD) delivered the workshop at the Australian Fisheries and Management Authority Aquarium Room on 3 May 2017.
The corporate governance workshop met and exceeded the aims and objectives of the people development research project.
Workshop participants gained a sound understanding of the duties of a director, role of the board, board composition, governance relations, meeting effectiveness, and board performance.  As a direct result participants are now confident they have the skills to identify the role and key functions of the board and its directors, describe the key duties and responsibilities of directors, and understand how the board fulfils its primary functions within the regulatory framework in which boards operate.
Tuna Australia board members have the knowledge to review board meeting protocols and procedures and realise the importance of key performance indicators for the board and directors.  Importantly, board members have an appreciation of a director’s liabilities and related protections.
This training workshop was important as it provide a sound education on corporate governance and emphasised the need to set a sound board culture and meeting processes.  This training will no doubt be beneficial in the short- and long-term for Tuna Australia.
Given the experience of Tuna Australia board members it is worthwhile for the FRDC board to consider this type of training for other seafood industry boards including those involved in the recreational sector, indigenous, and commercial groups in Australia.
Keywords - Workshop, Corporate governance, board director, meetings, board culture