Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Chartered Director programme will help directors’ skills

Chartered Director programme will help assure directors’ skills


People can be a lot more assured that directors have the skills and knowledge to govern effectively following today’s decision to introduce the Chartered Director programme.

Institute of Directors Chief Executive Dr William Whittaker said the introduction of the Chartered Director programme was the biggest change in the IoD’s history and would take the professionalism of IoD members to a new level. It will also align New Zealand more closely with our trans-Tasman partners and will go a long way toward creating a common currency for directors operating on both sides of the Tasman.

“Chartered Director will offer stakeholders and investors an assurance that directors have met certain professional standards and that they have the knowledge to carry out their duties. It provides a framework of standards against which directors’ experience is recognised.”

A fundamental requirement of the programme is continuing professional development for most IoD members, which ensures that directors stay current by continuing to undertake training and learning opportunities.

“Directors will be able to demonstrate their commitment to sound governance through continuing professional development and by participation in a credible framework against which their expertise, experience and level of commitment can be recognised at different stages of their career”.

Dr Whittaker said the programme is designed to transition the IoD from a member-based organisation to a professional body. “By recognising directing as a distinct profession, it will encourage greater professionalism among the wider director community,” he said. “Directors’ skills, experience, competence
and currency of knowledge are their value proposition.”

Changes to the Institute of Directors’ constitution that paved the way for the Chartered Director programme were approved at the AGM in Christchurch today.

Chartered Director will become operational on 1 October 2014. In the four months until the programme becomes operational, current IoD membership will be transitioned on to the new programme.

Chartered Director will introduce:

• a new membership structure with seven different levels of expertise and experience. Associate,

Member, Chartered Member, Chartered Fellow, Distinguished Fellow, Retired Fellow and Retired

• a requirement for continuing professional development (CPD) for most member categories apart

from Associate and Retired

• annual disclosure and commitment to ethical standards under a charter

-Ends-

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

The Price Of Cheese: Cheddar At Eight-Year Low

Food prices decreased 0.5 percent in the year to June 2016, influenced by lower grocery food prices (down 2.3 percent), Statistics New Zealand said today. Compared with June 2015, cheese prices were down 9.5 percent, fresh milk was down 3.9 percent, and yoghurt was down 9.2 percent. More>>

ALSO:

Financial Advisers: New 'Customer-First' Obligations

Goldsmith plans to do away with the current adviser designations which he says have been "unsatisfactory" in that some advisers are obliged to disclose potential conflicts of interest and act in their customers' best interests, but others are not. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news