Severe Storms in Sydney

To our clients, as you may be aware there have been a severe storm in Sydney and Newcastle Area for the last 48 hours and travelling is dangerous and some team members and family members have suffered damage to property.

Our first priority is to our team member, so please excuse us if we are delayed or cancel some meetings whilst team members deal with insurance, repairs etc.

Thanks in advance for your consideration.

Jason Masters
Managing Director

Australian Financial Review – Board Technology

I was recently quoted in two articles around the importance of boards needing to obtain technology related expertise on their boards and included technology as part of their ongoing board education.

Outside advice helps boards cope with tsunami of change

Business a 3-D world: dynamism, digitisation, disruption

20150206 Outside Advice Helps…AFR

20150206 Business a 3-D World …ARF

Sydney Returning to normal – so are we

With the devastating news of the deaths of hostages in Sydney ( #SydneySiege), the Premier of NSW asked that Sydney siders and business return to normal as soon as possible. We are committed, as with all businesses in Sydney, to returning to operations as normal.

Our office will reopen today.

We ask that you remember or pray, as is appropriate for you, for the hostages and their families, as well as the NSW Police Force and other emergency services team members who did an amazing job that they are very well trained for.

Finally, we support #illridewithyou, a local response on Twitter by Australian’s that has gone global, to rebuild and strengthen the sense and reality of community in our wonderful city.

Pleased to have Spoken at Cybercrime and Trustworthy Computing Conference, Massey Uni – New Zealand

I am pleased to have been a speaker at Cybercrime and Trustworthy Computing Conference 2014 hosted by Massey University just outside of Auckland, New Zealand this week.

My topic was “Connection (or disconnection) between IT, IT Security and the Boardroom” a discussion on the challenges and opportunities for technologies to better connect with the boardroom on IT security matters.

This was a fascinating conference with speakers from Academia and Industry, with a panel discussion on areas that industry would recommend further academic research.

A copy of my presentation slides can be found here.  https://apacpaac.box.com/s/jnhxccecqgeckz0ga1eg

Jason Masters appointed Independent Non-Executive Director of Celtaxsys Aus Pty Ltd

We are pleased to announce that Jason Masters has been appointed an Independent Non-Executive Director of Celtaxsys Aus Pty Ltd is a subsidiary of Celtaxsys of the USA which is a privately-held clinical stage drug development company with operations in San Francisco, CA and Atlanta, GA.

Celtaxsys is leveraging deep knowledge of innate immune biology and pathology to build a portfolio of novel immune modulating drugs. Via both acquisition and internal research, Celtaxsys is designing a diversified pipeline to provide first-in-class or best-in-class therapeutics for important diseases such as Cystic Fibrosis (CF), Systemic Sclerosis (SSc) and Idiopathic Pulmonary Fibrosis (IPF). Celtaxsys’ flagship program, CTX-4430, is a first-in-class oral LTA4 Hydrolase inhibitor for treatment of CF lung inflammation and entering Phase clinical 2 trials in 2013.

Appointment as Independent Chair of Cessnock City Council Audit and Risk Committee

Jason Masters Governance is pleased to announce that Jason Masters has been appointed as the Independent Chair of the Audit Committee for Cessnock City  Council.

Rod McGeogh, a senior company director recently commented in Brisbane that Cessnock will, with the rest of Australia, undergo significant growth over the next 20 or so years.

The City covers approximately 1,950 square kilometres and is located in the wonderful Hunter Valley area of New South Wales, approximately.  The area is about120 kilometres north of Sydney and 40 kilometres west of Newcastle, so centrally located in a rural area with connections to the major centres of NSW.

Cessnock has a long history of mining and wine growing, with the Hunter Valley wine-growing area in the Cessnock LGA is Australia’s oldest wine region and one of the most famous, including the vineyards of Pokolbin, Mount View and Allandale, with their rich volcanic soils tended by entrepreneurial vignerons, are also the focus of a thriving tourism industry.

Jason Masters is honoured to be appointed to this important position to assist in the governance structures of the Council and support its residents and businesses through its Council as the area continues to grow and face many important challenges, risks and opportunities.

Directors review of Financial Accounts and External Auditor

Today, the AFR, the Chairman of ASIC, Mr Rod Medcraft made the following comments :

“Mr Medcraft put the onus on directors to contribute to audit quality by ensuring auditors receive reasonable fees and that auditor independence is protected. Price gouging is rampant in the industry, surpassing 2008 levels in the wake of the financial crisis.

(see http://www.afr.com/p/national/boards_must_drill_auditors_asic_8BSbDG724pNPUda4WWbysL – subscription required).

It is important that Directors (often through their Board Audit and Risk Subcommittee) have an active engagement in the tender for External Audit Services, approval of the annual Engagement Letter, review the financial accounts with the External Auditor and finally review their performance.

To assist directors with these processes, we have provided some documents that have been based on various books and material available, please click here to be taken to the page.

An effective external audit process required good and effective oversight by the Directors often through an engaged and active Board Audit (and Risk) Committee.