Boards here and Down Under: Spot the differences

NEXT year marks 50 years of formal relations between Singapore and Australia. The deepening ties promise increased corporate opportunities.

The two corporate landscapes share many similarities. For starters, a government and legal system based on the English, a broadly ethical and corruption-free business culture, and a commitment to high standards of corporate governance.

Yet, having sat on boards on both sides, I would say that there are distinct differences between how boards in the two countries function. They result from variances in regulation, culture and outlooks of economic opportunity and performance.

Regulation

There is a widespread view that Australian boards are turning more risk-averse. That is partly because existing legislation holds directors brutally accountable, and recent lan…