On 22 July 2016, the Governance Institute of Australia conducted a seminar at which John Price (pictured right), a Commissioner with the Australian Securities and Investments Commission (ASIC) discussed Board and Organisational Culture. The issue of culture has been an important discussion point with ASIC and Australian businesses recently and this discussion included consideration of the role of occupational health and safety (OHS).
Although the seminar was not a speech, the discussion paralleled many of the points that Price made in this May 2016 speech. The speech is a useful insight into how an Australian corporate regulator sees culture and it is not very different from how the OHS profession sees it. Price references the Criminal Code that
“…defines corporate culture as including an organisation’s attitudes, policies, rules, course of conduct and practices.”
He also said that
“Culture matters to ASIC because poor culture can be a driver of poor conduct.”
