Setting the record straight

摘要

IN THE WAKE OF a number of high profile corporate collapses a new Australian Standard has been published to encourage organisations to keep better records of their business dealings. The new Australian Standard titled, AS 5090:2003 Work process analysis for recordkeeping, was launched to business and industry at Standards Australia's head office in Sydney, on 4 August 2003. According to Chief Executive of Standards Australia, Mr Ross Wraight: "The Standard is important for organisations needing to demonstrate accountability and reliability to stakeholders. "Companies to be successful need to gain and retain the confidence of investors that they are well run. This can be supported by demonstrating greater accountability and transparency in the management and control of key corporate information, and this landmark Standard for recordkeeping will be a vital tool for business."