directors

Using the trendy but woefully inaccurate term "oversight" when it means supervision ( see why here), ASIC "urges companies to apply a greater focus and sense of urgency to the oversight and management of non-financial risk..particularly compliance risk. Boards cannot afford to ignore the oversight of non-financial risks." The thing is that ASIC's findings show a failure of awareness of the legal position of directors in Australian companies.

The phoenix is a creature of ancient Greek mythology, It was creature of Paradise and, when it became old and frail, it would self-immolate and a younger, stronger, even more beautiful version of itself would rise from the flames. It is also to be found in Egyption myth where, as the "Lord of Jubilees" it symbolised a fresh start The symbolism of the old going down in flames and something new and shiny, but essentially the same creature, replacing it is a far from mythical part of the corporate landscape. Unlike the bird, a corporate phoenix is rarely a good thing.