How standards help drive boardroom excellence

With directors under more scrutiny than ever before, internationally aligned standards offer guardrails to reduce risk without compromising innovation.

Presented by Standards Australia

Leading a successful organisation in today’s business landscape has never been more complex. Decision making is impacted by unpredictable markets, global events and shifting goal posts, while directors are expected to have a working knowledge of issues from AI to cybersecurity, geopolitics and ethical supply chains.

“There is an expectation that governance at the board table is increasing,” says Rod Balding MAICD, CEO of Standards Australia, the country’s leading independent standards organisation. “If directors are not raising their depth of discussion around hot topics, they run the risk of being left behind or ultimately making the wrong decisions for shareholders.

“Aligning with these globally recognised benchmarks gives Australian organisations a competitive edge, opening doors to new markets, streamlining compliance and driving operational efficiency,” he adds.

Standards Australia’s active participation in international standards committees also ensures that Australian voices help shape these global best practices.

Compliance in this environment can be difficult to understand, and even harder to meet. But directors can see it as an opportunity.

“Innovation comes with risk and uncertainty, and standards are a powerful bridge between new ideas and the trust needed to move forward,” he says.

Working to an agreed set of guidelines, he explains, can help directors navigate ambiguity. Standards provide a trusted reference point, built around internationally recognised best practice that can guide boardroom discussions and decision making.

“People will feel more comfortable if they know that innovation is not going completely unchecked.”