Andrew Leigh

‘SHADES OF BOTTOM OF THE HARBOUR’

CPA Australia is the latest organisation to speak out on the need for reform in our director registration system.

CPA Australia’s head of policy Paul Drum today told a parliamentary committee that other countries have had robust systems for detecting dodgy directors in place for decades, while Australia has been “so lackadaisical”.

“I think that certainly needs to be toughened up.  To me, it was shades of ‘Bottom of the Harbour’,” Mr Drum said.

Mr Drum also referenced the push for 100 point ID check for prospective company directors, something Labor proposed as part of a Director Identification Number.

Supporters of a Director Identification Number now include:

• Australian Institute of Company Directors
• Australian Small Business and Family Enterprise Ombudsman
• Productivity Commission
• Tax Justice Network
• Australian Chamber of Commerce and Industry
• Master Builders Australia
• Australian Council of Trade Unions
• Australian Restructuring Insolvency and Turnaround Association
• Phoenix Project, comprising experts from Melbourne University Law School and Monash University Business School

Unfortunately, one other body is too busy fighting itself to join the battle against dodgy directors:

• The Turnbull Government

TUESDAY, 18 JULY 2017