Helping leading companies perform better
Company Directors are subject to ever increasing scrutiny and risk. Shareholder litigation and the growth in US-style shareholder activism is requiring increasing attention from Boards.
We provide independent advice to Chairpeople, Audit Committees, CEOs and CFOs of ASX listed entities on the governance performance of the companies they represent.
We work with Boards and senior management teams and identify areas of opportunity to strengthen and develop governance practice and move along the good governance spectrum. We are engaged for many reasons including:
- Maturing companies responding to market expectation
- Boards and CEOs looking for continuous improvement and outside help to respond to an issue
- Boards and CEOs looking for an independent expert opinion
Welcome to the 2015 McGrathNicol Guidance Report, prepared by our Advisory team. This report profiles the extent to which ASX listed companies released and met earnings guidance provided to the market in 2015.
Our analysis has included a sample of 104 ASX listed companies across the Building Products, Construction & Engineering, Food & Beverage, Media & Leisure, Retail, Transport & Distribution and Utilities sectors with a combined market capitalisation of over $237 billion, representing 79% of the total for the selected sectors.
We help Boards and senior executives identify and proactively mitigate risk.
Who do we help?
We help businesses, both listed and private, including some of Australia’s best known organisations to perform better.
We were engaged by the Board of an ASX-100 listed company to review the circumstances that led to a significant write-down against forecast and ultimately a continuous disclosure issue for the Board.
Our review involved an independent assessment of both specific events and general governance processes across the organisation.
Our work assisted the Board and senior executives in their own organisational review which has led to significant business transformation.
We were engaged by the Board of an ASX-100 company to independently consider the integrity of the methodology used by the company to determine the value of a multi-billion dollar asset class, the quantum of proposed impairment charges, and the potential risks inherent in the company’s approach.
Our work involved understanding and challenging the methodology adopted by senior management and validated by external auditors, and identifying key risks and process improvements.
We were engaged by the Board of an ASX-100 company to review the group’s global forecasting process following a market announcement revising future earnings guidance.
We met with senior executives in five different global jurisdictions to understand the group’s forecasting and consolidation process.
Our work involved considering the extent to which forecast variances were caused by flaws in the group’s process, and which were outside of the group’s control.
We delivered a report to the Board identifying a range of proposed improvement and suggestions for implementation.
Not-for-profit housing organisation
We undertook a review of the existing lines of reporting within a large not-for-profit organsiation, which included an assessment of the quality of financial information presented to the Board.
The catalyst for the review was a proposed major restructure, which also involved a change in the organisation’s strategic approach to the market.
We were engaged to assist a global mining company develop high quality financial reports utilising performance dashboards and KPI reports.
We met with senior executives and operational managers to agree on key business drivers, understand operating metrics and system issues.
We produced a reporting suite that provided senior management with clear and concise information utilising dashboard reports, interactive charts and exception highlights. The format of these reports significantly improved the quality of information and enabled senior executives to quickly focus on key areas of performance risk.
Expanding privately owned property developer
We were engaged to review the existing governance model in place at a expanding family-owned property development business.
We assessed the timelines and quality of financial information provided to the Board in a private property development company ahead of prospective international private equity investment.
The company was transitioning from a family-dominated Board to having independent chair with international Board members expected to join the Board as a result of international investment.
Print the McGrathNicol Governance & Risk brochure.