Is a site audit statement worth the ‘paper’ it is written on?

In many transactions, site audit statements have become de facto certificates that a condition precedent or condition subsequent in an agreement has been satisfied (or not). Multiple parties often rely on a site audit statement, such as vendors, purchasers, financiers, directors and decision makers within a company. However, are these parties entitled to rely on…

Environmental Management Systems: what boards can learn from the Banking Royal Commission

In Australia, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has exposed remarkable failures in risk management, compliance and culture that have claimed the careers of a number of senior managers and directors and seen the threat of litigation. The underlying issues are not unique to the world of finance.…