Charter

Welcome
Our Mission
Our Goal
Our Approach - the pathway forward
Structure and Governance
CFO Council and National Executive - key relationships, activity focus

Welcome to the Group of 100 which represents Australia’s senior finance executives.

The Group’s members are drawn from the nation’s major private and public business enterprises.

A primary goal of our organisation is to ensure that Australia’s commercial environment is one which advances the interests of Australian businesses engaged in today’s highly competitive and global environment.

We achieve this through a preparing position papers on such matters as:

'The Guide to Compliance with ASX Principle 7',
'The Guide to Review of Operations and Financial Condition';
'Sustainability: A Guide to Triple Bottom Line Reporting';
submissions to standard-setters in respect of IFRSs;
undertaking high quality research on business issues such as corporate governance;
presenting views on issues which impact on the country's capacity to meet international competition.

As we enter the first decade of the 21st Century our working committees will be ensuring the Group of 100 leads the debate on important financial issues and that Corporate Australia and the nation it serves is well equipped to meet the rigours and opportunities which international competition presents.

If you would like to know more about the Group of 100 I invite you to contact our office, visit our website or arrange to access any of the position papers our organisation has prepared and presented.

Mission

The primary mission of the Group of 100 is to ensure that the voice of major business enterprises is heard on financial reporting and management, corporate governance and regulatory issues covering the core areas of:

Accounting Standards
Business Regulations
Corporate Finance
Corporate Governance
Corporations Law
Stock Exchange requirements

Its secondary mission is to ensure that public debate on these core areas is well informed by adopting a proactive and principled approach to the research and development of position papers on matters key to the maintenance of Australia’s competitive position in the global environment.

Goal

Our overriding goal is to contribute positively to the development and maintenance of an Australian regulatory environment which best serves to advance the interests of Australian business in the context of international competition.

Through such activity our CFO network will continue to set the agenda and lead the debate on financial reporting and management, corporate governance and regulatory issues influencing the future direction of Corporate Australia.

Our Approach - the pathway forward

We achieve this goal by undertaking high level policy and communication activities with key regulatory bodies, underpinned by quality research covering the significant business issues of the day and more importantly the issues of tomorrow.

We are also a facilitator to ensure the business community and Australian regulators are working together in scoping and implementing the following objectives and actions:

Achieving high quality standards of financial reporting and corporate governance which are compatible with leading competitive nations
A regulatory environment which enhances our reputation for compliance and transparency in reporting
Greater access to international capital markets
A thrust for certainty and consistency in reporting achieved at realistic cost
Undertaking development activities for members through effective liaison, education, member programs and events
Developing and enhancing liaison with G100 equivalents internationally.

Structure and Governance

Australia’s major private and public business enterprises, and global enterprises operating in Australia, comprise the membership of the Group of 100.

As its name implies, the organization draws its membership from the top business enterprises in Australia.

CFO Council and National Executive

The National Executive is responsible for the following activities:

Determining the overall strategic and policy direction of the G100

Oversight and monitoring the activities of the G100

Seeking support for G100 views within business networks for CFOs and CEOs

Ensuring recognition of G100 as the pre-eminent voice of business on finance related issues by raising the profile and lobbying effectiveness of the G100

Maintaining high level liaison with relevant organizations, regulatory bodies and Ministers

Ensuring a broader involvement, participation and support by CFOs of significant entities in the activities of the G100

Identifying major financial reporting and management, corporate governance and regulatory issues relevant to members on which to undertake research and prepare position papers.

Key Relationships

The development of sound relationships with other bodies is an ongoing task. Key bodies include:

Business Council of Australia
Financial Reporting Council
Australian Accounting Standards Board
Australian Securities and Investments Commission
Professional Accounting Bodies
Australian Stock Exchange
ASX Corporate Governance Council
International Accounting Standards Board
USA Working Council for CFOs
Major Accounting Firms

Activity Focus

In pursuing its goals and executing its strategies, the G100 has identified the following issues of concern to CFOs and accordingly it will focus on:

Financial reporting issues
Regulatory issues
Corporate governance
Corporate finance

In addition, the Group of 100 will be ensuring that:

It seeks members’ views on important issues through sound communication
It publicises its objectives and strategies to the wider business community and regulators and that it is accessible to organizations, businesses and individuals seeking the Group’s views on issues important to Australia’s business competitiveness.