ON YOUR BEHALF: Cyber, privacy and governance reforms

Cyber security: practical support for smaller organisations 

A parliamentary inquiry into cyber security is examining whether smaller businesses and not-for-profits have the budget or specialist skills to keep their systems and data safe from hackers. A key question will be how they can access clear guidance, reliable security providers and useful training. 

In our submission to the inquiry we back a CyberSmart Hub offering plain-English advice on legal duties and safeguards. We also support affordable benchmarks and training tailored to an organisation’s size, risk and needs – rather than broader regulation. 

Meanwhile, the Attorney-General is reviewing whether the 2024 reforms to laws around foreign bribery are helping to prevent misconduct and making the laws easier to enforce. 

In our submission to the review, we support deferred prosecution agreements to give companies that report wrongdoing, cooperate with investigators and fix the problem a chance to reach an agreement with authorities instead of automatically facing criminal charges. The review panel will report by 31 December 2026.

Privacy reform: calling for more time and stronger evidence 

Australia’s privacy laws were written before much of today’s digital economy existed, so the government is proposing reforms to strengthen transparency, create a right to take legal action over serious invasions of privacy and give regulators greater powers.  

The AICD agrees that change is needed but says the government has not clearly explained the case for these reforms or fully assessed their costs, benefits and effect on productivity. 

In our submission on the draft legislation, we call for a pause to the process, further consultation with stakeholders and more time for organisations to prepare. 

ASX governance guide: more room for boards to explain their approach 

The ASX Corporate Governance Principles and Recommendations cover eight areas, including board structure, ethical conduct, disclosure, shareholder rights, risk and remuneration. ASX is updating the principles because some recommendations are seen as too prescriptive or they repeat existing laws.  

The AICD supports the recommendations and the retention of the “if not, why not” model that lets listed companies choose arrangements that suit them, as long as they explain their choices to investors. 

Final changes are expected by the end of 2026, with the new edition proposed to apply after 1 July next year. 

New AICD Resource Library  

Looking for relevant resources or the latest thinking on governance? Our new Resource Library makes it easier than ever to find news, reports, policy submissions, podcasts and other useful tools. 

Members can browse by topic when preparing for a board meeting, building their knowledge or keeping up with emerging issues. 

Recognition for Company Director 

The AICD’s member magazine, Company Director won Launch/Relaunch of the Year at the recent Mumbrella Publish Awards and was a finalist in four other categories. The magazine has also been shortlisted for Membership Publication at the prestigious International Content Marketing Awards. The ceremony takes place in London later this year. 

Global board priorities: shared challenges for directors 

AICD Managing Director and CEO Mark Rigotti FAICD reflected on key board priorities at the Global Network of Director Institutes’ annual meeting in Buenos Aires. While each market faces its own conditions, common challenges include geopolitical risk, capital allocation, technology and AI oversight, sustainability and the expectations placed on directors. Rigotti says these shared pressures show why directors need to keep learning and stay focused on the fundamentals. “Ultimately, good governance is about ensuring our organisations are resilient, well-informed and equipped to thrive.”