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Functioning of the Board and Monitoring and Evaluation of Performance

In: The Key Code and Advanced Handbook for the Governance and Supervision of Banks in Australia

Author

Listed:
  • Francesco de Zwart

    (University of Adelaide)

Abstract

Chapter 24 of this Stage 2 Key Code and Advanced Handbook for the governance of Australian major banks examines the functioning of the board and the monitoring and evaluation of its performance. We begin with recommendations and observations by the Walker Review 2009 and APRA. We then construct the [BankNEDTestStrat] (+) variable for challenging and testing strategy by non-executive directors and the [BankNEDTestRisk] (+) variable for challenging and testing risk by NEDs. We continue by listing the sections of the Key Code and Advanced Handbook which consider the time, qualifications, role and annual election of the chairperson and the role of the ‘senior independent director’, the performance evaluation of the board and the evaluation statement of the skills and experience of the board. Chapter 24 concludes with the APRA Final Report failings in board effectiveness, risk management, internal monitoring and decision-making and the APRA Final Report failings in reporting to the board.

Suggested Citation

  • Francesco de Zwart, 2022. "Functioning of the Board and Monitoring and Evaluation of Performance," Springer Books, in: The Key Code and Advanced Handbook for the Governance and Supervision of Banks in Australia, edition 1, chapter 0, pages 757-763, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-1710-2_24
    DOI: 10.1007/978-981-16-1710-2_24
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