Advertising Standards Bureau Review of Operations 2014 - Page 27

(ASAS) met with ASB in Canberra to gain a more detailed understanding of the operations and issues involved in the Australian selfregulation sphere. Work continued on a project to further develop regional self-regulation organisations. This work resulted in the 2014 APEC Leaders Declaration supporting an ‘Action Agenda on Advertising Standards and Practice Development to promote alignment of advertising standards’. This followed a three year APEC project initiated by the ASB and supported by the Australian Government, the World Federation of Advertisers, the European Advertising Standards Alliance, the International Chamber of Commerce and sponsorship from a number of international advertisers. The ASB’s efforts over the three years led to the development of important relationships among APEC participants in supporting the growth of advertising self-regulation throughout the Asia‑Pacific region Review of Operations 2014 High standards in governance In 2014 the ASB Board of Directors undertook an internal evaluation in the form of a confidential self-evaluation survey. The survey provided the Board of Directors with an opportunity to individually and collectively consider what issues may currently exist and any gaps in the current composition of the Board. The survey results will also serve as a benchmark for future evaluations. At the same time, a Board Skills Matrix was prepared to identify the current mix of skills, experience and expertise of Board Members. The Board comprehensively reviews the ASB’s risk analysis and assessment framework as part of the biennial strategic planning process. At each board meeting, the Board reviews the status and current situation of each risk assessed as “High”. The Board approved a policy on board structure and composition in late 2014. The policy sets out the agreed criteria for Board membership. It is intended to guide Board decisions so that an appropriate mix of skills, experience, knowledge and diversity is maintained to enable the Board to achieve the company’s strategic objectives. 25