The Austrian Centre for Corporate Governance aims to promote a dialogue in the critical areas of corporate governance among industry bodies, companies and their supervisory boards and senior management, professional services firms, academia, government and others. This site is designed to discuss governance related issues for the Austrian boards and their committees. It contains a diverse collection of resources and thought leadership from Deloitte including third party resources.

 

 

Business Lunch - Supervisory Board 2011

The future of European corporate governance

On June 16th, 2011 Deloitte Austria invited to its headquarters for a dicussion about the current development of corporate governance in the European Union and its influence on the daily business of Austrian supervisory board members. Hendrik Descheemaeker, EMEA Managing Director European Regulatory Affairs from Deloitte Belgium attended the event and held a presentation about the "EU Green Paper - the corporate governance framework".

 

Corporate Governance Centre Austria – Launch Event

Dealing with the tasks of non-executive directors in a fast moving environment

On June 16, 2010 Deloitte Austria successfully launched the Austrian Corporate Governance Center. The event was themed „Dealing with the tasks of non-executive directors in a fast moving environment“. Austrian and international experts held various presentations and provided insights into the latest developments and best practices relating to Corporate Governance. Below please find detailed documentation relating to the event.

Governance News

Austrian Corporate Governance Newsletter

The Austrian Newsletter on Corporate Governance is published periodically and informs Austrian directors about current developments regarding Corporate Governance and accounting. Furthermore it regularly presents recently-undertaken studies by Deloitte.

The current edition of the Austrian Newsletter on Corporate Governance focusses on the latest changes in IFRS, communication of those charged with governance as well as the Austrian Code of corporate governance. Furthermore, the Deloitte Centre for Corporate Governance is introduced.

 

EU Green Paper on audit policy

In October 2010, the European Commission published its green paper "Audit Policy: Lessons from the Crisis". It describes and critically discusses the current contents and framework conditions of statutory audits. The "Deloitte Centre for Corporate Governance" appreciates this initiative and informs you about its point of view in this special edition of "Aufsichtsrats Breaking News".

 

European Commission Green Paper on corporate governance in financial institutions

Corporate governance rules were de facto stress-tested by the run-up to the crisis and the crisis itself and found wanting. Many financial institutions took risks that were not in their best long-term interests, and which society as a whole is now paying for. The European Commission has issued a green paper on corporate governance in financial instituions.

 

Austrian Corporate Governance Code – Update 2010

In January 2010 the Austrian Corporate Governance Code has been updated. This revision of the Corporate Governance Code has incorporated changes to the Austrian Companies law as well as recommendations from the European Union on management compensation. 

Dig Deeper

Corporate Governance Trends – Looking Back as We Move Forward

This article addresses current corporate governance trends and how regulatory reform may shape the future. The article also covers shareholder proposals related to environmental and social issues.

 

Ever-increasing demands - Directors' Alert: 11 issues for 2011

This briefing discusses 11 key issues for boards and their organisations to address in the year ahead.

 

Risk Intelligent Governance

A practical guide for boards
This paper aims to give board members a practical, action-oriented guide to enabling and executing Risk Intelligent governance. At the heart of the paper are six sections describing “areas of focus,” each of which represents what Deloitte views as a key facet of risk governance.

Ten Things for Boards of Directors to Avoid

Deloitte presents a list of 10 activities that should be avoided because they could hinder board and company effectiveness.

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 Women in the Boardroom

The topic of boardroom diversity is long-standing. This article from the Deloitte Global Center for Corporate Governance provides an overview of current initiatives around the world, both legal and regulatory, to increase the number of women serving on corporate boards.

 

Corporate Responsibility 2.0 – From Corporate Responsibility to “General Responsibility”

Companies can generate sustainable growth if they pursue global ESG (environmental, social and governance) strategies, which also would increase transparency and restore trust and credibility lost since the 2008 crisis, suggests Corporate Responsibility 2.0. The report, released by the European Federation of Financial Analysts Societies’ Commission on ESG, follows draft key performance indicators it published last month.

Survey on Supervisory Board Compensation 2009

In its recent survey Deloitte has analyzed the compensation of Supervisory Board Members of companies listed in the Prime Market at the Vienna Stock Exchange. The report gives an overview on individual compensation and various components of the remuneration. It also provides insights into demographic information. The survey contains data on compensation of supervisory board members and chairmen. The analysis includes basic and total remuneration, variable payments, attendance fees, D&O insurance as well as demographic data relating to gender and age limits for supervisory board members.

Supervisory Board meets Auditor – legal framework versus reality

On November 12,  2009 Deloitte organized an event covering actual developments in Corporate Governance issues specially targeted at Supervisory Board Members. One topic focused on the relationship between the Supervisory Board and the auditor. The presentation was based on an empirical study on this issue performed by Ulrich Kraßnig (Erste Bank) as part of his thesis. The following interview provides an overview of the main findings.

FEE Discussion Paper on Auditor’s role regarding Assurance on Corporate Governance Statements

A survey performed by the Federation of European Accountants (FEE) indicates that, despite the range of legal systems, institutional frameworks and traditions, there is considerable convergence across Europe in the elements of national corporate governance codes. The discussion paper further concludes that the involvement of a suitably qualified independent can increase the degree of confidence of users of corporate governance information.

Monitoring and Enforcment Practices in Corporate Governance in the Member States

This Study undertaken by RiskMetrics Group on behalf of the European Commission provides an overview of the various monitoring and enforcement mechanisms in the Member States of the European Union concerning corporate governance rules that are laid down in codes of corporate governance. It assesses the level of compliance of companies with the provisions of corporate governance codes and examines the availability and quality of explanations for deviations from these codes for a sample of 270 listed companies from 18 Member States.

 

FEE Policy Statement - Embedding Sustainability into Corporate Governance

In July 2009 the Federation of European Accountants (FEE) issued a policy statement on corporate governance and sustainability. Sustainability plays an increasing role restoring and maintaining confidence notably through its longer term focus and nature. FEE believes that corporate governance mechanisms will need to evolve to respond to the changing dynamics that this presents, specifically addressing the stewardship of sustainability issues impacting the organisation’s business goals and other activities.