The role and value of independent directors in modern Australian corporate governance

[Extract] The role of the independent director in the governance of public companies has been highlighted as a result of the recent collapse of a number of well-known companies. What role can the independent director reasonably expect to play within the company structure to prevent the likelihood of further corporate failures taking place? This article describes what can be reasonably expected of independent directors and identifies those areas that companies need to address to ensure that they employ suitable independent directors and utilise their skills appropriately