Independence and Accountability on Superannuation Boards
30 August 2013, Herbert Smith Freehills, Sydney

Recent calls for independent directors on superannuation boards go to the heart of the philosophy of super fund governance.  Does independence in the boardroom really lead to better decision making? Does it undermine the representative model of directorship on trustee boards and, if so, how?  How does it relate to the Stronger Super reforms, with their emphasis on accountability and transparency?  Indeed what relevance do the traditional governance concepts of independence and accountability have in superannuation?

This Workshop was jointly sponsored by Herbert Smith Freehills, the Association of Superannuation Funds of Australia and the Centre for Law Markets and Regulation, UNSW.  It offered the opportunity for regulators, policy makers, professionals and industry participants to engage in a series of discussions designed to advance the debate around independence and accountability on superannuation boards.  Participants in the Workshop included Professor Sally Wheeler - Queens University, Belfast; Professor Andreas Ortmann – Australian School of Business, UNSW; Associate Professor Ronald Davis – University of British Columbia; and Professor Bob Baxt – Herbert Smith Freehills.