CEOs Say One Thing and Do Another: An Insight Provided by a Royal Commission

Barry Rafe

Australian company directors should be doing more to ensure their executives stick to the ethical values espoused at Board level if they want to avoid a repeat of the poor behaviours exposed at the Hayne Royal Commission.

Written by Barry Rafe, this issue of The Dialogue identifies a serious flaw in Board governance practices in large complex organisations.

“Boards need to espouse values that are realistic, can be put into practice, and be monitored by directors, but as important, Boards need to be aware of the potentially different values which drive the daily and strategic activities of their executive teams,” Mr Rafe said.

Mr Rafe is a former President of the Actuaries Institute and an expert on governance.

The Dialogue is a series of papers written by actuaries and published by the Actuaries Institute. The papers aim to stimulate discussion on important emerging issues. The opinions expressed in this paper are those of the author and do not necessarily represent those of either the Institute of Actuaries of Australia (the ‘Institute’), its members, directors, officers, employees, agents, or that of the employers of the author