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Who Needs the AICD Company Directors Course?

By Anna Daly 17th March 2023

Who needs the AICD Company Directors Course?

There is little doubt that the AICD Company Directors Course (CDC) is highly regarded by Boards, employers and participants alike but given the significant cost and time commitment, is it actually worth it? The answer is: it depends. Frustratingly equivocal as this answer is, it’s also the only decent one since the qualifications and experience of those of us considering enrolment can vary wildly. To provide a more satisfying response, we have taken that variety into account and sketched out three common career scenarios.

Advertisements for Board roles and some C-Suite roles often mention that an intention to enrol in the CDC is desirable at the very least, creating the impression that a GAICD is essential for a successful application. Since Boards are also often seeking to address skills gaps, however, candidates with tertiary qualifications and extensive experience in areas such as finance, IT, communications and business transformation are well placed for these roles, even without graduating from the CDC.

The CDC may still be worth it for those with highly sought-after skillsets. In Acuity magazine, Fiona Smith notes that one of the great benefits of directors’ courses is that they help accountants get Board ready by providing the much needed ‘soft skills’ that complement technical competencies. They may also be ‘great refreshers’ of existing qualifications such as an MBA, as Penny Diamantakiou, a former CFO at Yahoo 7 found.

Extensive experience but few formal qualifications

While there are no set qualifications for Board membership in Australia, the understanding of governance embedded in tertiary qualifications is considered essential. It is for this reason that candidates with few or no formal qualifications but a strong career history may benefit most from completing the CDC. In addition to providing graduates with formal recognition of competencies in key areas, the CDC is widely praised for creating knowledge sharing as well as networking opportunities.

Strong formal qualifications but little experience

Generally speaking, Boards value expertise and experience over qualifications which is why Penny Diamantakiou believes that the CDC is more valuable for experienced professionals in their 40s and 50s than for those just starting out in their careers. At the same time, completing the CDC can, in itself, count as experience. At the age of 22, Duku Forè, the founder of HnH Wholesalers and Rich Dreams, was the youngest to pass the course – and he rates it highly.

Its reputation alone may be reason enough to enrol, but there is some criticism of the CDC. Justin Davies at Emergination feels that graduates should receive a mark for the exam and assignment. ‘A very small per centage of the national graduates are awarded a distinction, however, there is no feedback at all,’ he observes. Concerns have also been raised about the course content. The Australian Financial Review ’s Joanne Gray notes that when she took the course in 2017, a number of participants queried the focus on risk management in an environment that demanded innovation and growth. That sentiment is echoed in ‘Three Contradictions in Australian Director Education’, where the lawyer and theorist Peter Tunjic writes that Australian director education ‘should be grounded in leadership and value creation’ rather than in a ‘neo classical model of corporate governance that values managerialism and value protection above all else.’

Overwhelmingly, though, responses to the AICD CDC are positive with even critics such as Davies describing themselves as ‘walking advertisements’ for the course. By providing formal recognition as well as professional development and opportunities for networking, the CDC is probably most beneficial to those lacking tertiary qualifications but it clearly delivers palpable value for highly qualified and inexperienced participants too.

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Sources Consulted

Justin Davies, ‘AICD Company Directors Course’, Emergination , 12/05/2021, https://emergination.com.au/aicd-company-directors-course/

Duku Forè, ‘AICD Company Directors Course Review: My Experience’, LinkedIn Pulse , April 20th, 2020, https://www.linkedin.com/pulse/aicd-company-directors-course-review-my-experience-duku-forè-gaicd/

Joanne Gray, ‘What it’s really like at the Australian Institute of Directors’ director school’, Australian Financial Review , 21/02/2017, https://www.afr.com/work-and-careers/management/directors-focus-on-risk-but-learn-they-have-to-make-time-for-strategy-20170221-guhj9n

Fiona Smith, ‘Director Courses Help Accountants Get Board Ready’, Acuity , 26/04/2019, https://www.acuitymag.com/business/director-courses-help-accountants-get-board-ready

Peter Tunjic, ‘Three Contradictions in Australian Company Director Education’, On Directorship , March 5th, 2019, https://ondirectorship.com/ondirectorship/2019-5

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AICD Company Directors Course

I completed the Australian Company Directors Course in 2008. For many years I ran the risk of sounding like a paid advertisement… “if you have contemplated doing this course, don’t hesitate, just do it”.

The quality of presenters and the work that has gone into preparing the course material is utterly first rate. I must say I have also learned a great deal from the participants who are all business leaders in a wide range of fields, and it is the interaction with the other participants as well as the lecturer that is the most valuable.

As in any learning, you only get out what you put in. There is a lot of reading material and preparation for every week. The case study material is really strong and gives you a very good grounding for all facets of directorship.

Since completing the course, I was invited twice by AICD to speak to potential participants about the course and what they should expect. I completed the 10 week course which was available and popular at the time. I particularly liked the opportunity to read and reflect on both the content and the learning before diving into the next topic. The 5 day intensive is considered by AICD to be the best option to take – however, it is the most expensive.

Make no mistake, there is a lot of reading. You receive two comprehensive manuals. I read the manuals in full twice prior to starting the course, then read each chapter and undertook the prep work before each weekly session, then read it twice at the end to ensure I prepared well for the assignment and exam. As I paid for the course myself, I wanted to make sure I really knew the material. When you are in a boardroom situation, you must come prepared and you should treat this no differently.

I recently had a look at the more current version of the manuals: the content is of the same high quality and updated.

I liked the weekly sessions as it enabled some contemplation and digestion time for the content, and I would recommend that approach. That said, many others have said to me that the 5 days or the weekend intensive are a really good ways to complete it as well (particularly if you travel frequently). There are now self paced and online versions available.

The main issue I had with the course was the complete lack of a mark from the exam and assignment. A very small percentage of the national graduates are awarded a distinction, however there is no feedback at all. I had hoped AICD would do something about this however I am not aware of a change.

In summary, an outstanding course and I highly recommend it to anyone that is either a director already or contemplating becoming one. I have found it very useful in my role as a business coach, advisor and director.

Interestingly around one third of the participants in the course decided never to become a director due to the current liabilities that exist in those roles. This is an area that needs significant attention in our legal frameworks.

If you prefer to listen instead, please listen to Justin Davies being interviewed by Tom Murrell on Darwinism: Survival of the Fittest in Business . 

If you are running a small to medium business and think you might benefit from a business coach, please read Do I Need a Business Coach?

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IPAA South Australia – AICD Company Directors Course

Australian institute of company directors (aicd) company directors course™ (cdc).

In collaboration with the Australian Institute of Company Directors IPAA SA is proud to bring you the Company Directors Course. This nationally recognised course will be contextualised using public sector specific case studies and will immediately improve your board performance and decision-making with pragmatic professional development that will have a life-long impact on your career.

What is the Company Directors Course? The  Company Directors Course is a highly interactive course which provides you with an in-depth look at the critical elements of governance and directorship in the board environment.

Is this course right for you? This course is ideally suited if you are an aspiring, new or current board member and are seeking to take your performance to the next level. If you are in a role as an executive, senior manager or director within any agency you will gain essential capabilities across directorship and governance skills and knowledge.

Past participants of this course include executive and non-executive directors, managers, executives, CEOs or other key personnel reporting to boards.

What will you learn? The Company Directors Course provides you with comprehensive grounding on your roles and duties as a board member, and also emphasises the unique risks, legal requirements and liabilities for board members.

The course includes modules on effective decision-making, the legal aspects of directorship, financial literacy and strategy, as well as putting the lessons into practice. Upon completion of this course you will be able to:

• Outline the duties and practices of directorship and the board’s functions and responsibilities.
• Analyse the responsibilities and functions of directors and officers considering the key questions directors should ask about their legal environment and its impact on board decision making.
• Examine the board’s roles in developing a culture that is appropriate for the risk appetite/ tolerance of the organisation and the board’s role in developing and executing strategy.
• Develop financial literacy and examine the board’s role in driving organisational performance.
• Examine effective decision making, board dynamics, the impact of individual and collective performance and how a constructive board culture can create value for an organisation

What can you expect?  Over five days of focused learning with other public sector professionals, you will develop your directorship and governance skills through exploring case studies and participating in interactive workshops on the issues and challenges that directors face. After completion of this course, you will not only understand your roles and responsibilities, but also greatly improve your performance.

The Company Directors Course comprises five days:

• Governance and the Practice of Directorship
• The Legal Environment
• Risk and Strategy
• Financial Literacy and Performance
• Achieving Board Effectiveness

There is approximately 60-80 hours of pre-reading required before the course takes place. You will receive all pre-reading prior to the commencement of the course, in both hard and soft copy formats.

Assessment is optional. Participants are required to attend at least four of the five days to be eligible to undertake assessment. The assessment includes:

• a one hour, 45 minute (105 minutes), open book quiz online, consisting of four long answer questions
• a 60 minute, open book quiz online, consisting of 20 multiple choice questions
• a multi part, case study-based assignment (total of 3,000 words)

Successful completion of all assessment tasks meets one of the criteria for assuming the graduate post nominals, GAICD (members only). Several Australian universities provide credit towards MBA programs for participants who successfully complete the Company Directors Course.

Download AICD brochure  here.

Format Face-to-face

Duration 5 Full Days 9:00am - 4:30pm (8:45am registration)

Inclusions Comprehensive course materials, including course notes, case studies and PowerPoint slides, and catering

Location AICD SA Business Centre and Members Lounge, Level 23, Westpac House, 91 King William Street, Adelaide View map

Costs Special IPAA member and associate rate: $8,924 excluding GST. This price also includes membership of AICD, valued at $825 (This offer is for new members of AICD only and is subject to membership criteria, membership offer conditions and AICD terms as outlined outlined on the "In-House Company Directors Course Membership Application Form".

Facilitator Various AICD facilitators with substantial public sector experience.

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Savvino-storozhevsky monastery and museum.

Zvenigorod's most famous sight is the Savvino-Storozhevsky Monastery, which was founded in 1398 by the monk Savva from the Troitse-Sergieva Lavra, at the invitation and with the support of Prince Yury Dmitrievich of Zvenigorod. Savva was later canonised as St Sabbas (Savva) of Storozhev. The monastery late flourished under the reign of Tsar Alexis, who chose the monastery as his family church and often went on pilgrimage there and made lots of donations to it. Most of the monastery’s buildings date from this time. The monastery is heavily fortified with thick walls and six towers, the most impressive of which is the Krasny Tower which also serves as the eastern entrance. The monastery was closed in 1918 and only reopened in 1995. In 1998 Patriarch Alexius II took part in a service to return the relics of St Sabbas to the monastery. Today the monastery has the status of a stauropegic monastery, which is second in status to a lavra. In addition to being a working monastery, it also holds the Zvenigorod Historical, Architectural and Art Museum.

Belfry and Neighbouring Churches

Located near the main entrance is the monastery's belfry which is perhaps the calling card of the monastery due to its uniqueness. It was built in the 1650s and the St Sergius of Radonezh’s Church was opened on the middle tier in the mid-17th century, although it was originally dedicated to the Trinity. The belfry's 35-tonne Great Bladgovestny Bell fell in 1941 and was only restored and returned in 2003. Attached to the belfry is a large refectory and the Transfiguration Church, both of which were built on the orders of Tsar Alexis in the 1650s.  

To the left of the belfry is another, smaller, refectory which is attached to the Trinity Gate-Church, which was also constructed in the 1650s on the orders of Tsar Alexis who made it his own family church. The church is elaborately decorated with colourful trims and underneath the archway is a beautiful 19th century fresco.

Nativity of Virgin Mary Cathedral

The Nativity of Virgin Mary Cathedral is the oldest building in the monastery and among the oldest buildings in the Moscow Region. It was built between 1404 and 1405 during the lifetime of St Sabbas and using the funds of Prince Yury of Zvenigorod. The white-stone cathedral is a standard four-pillar design with a single golden dome. After the death of St Sabbas he was interred in the cathedral and a new altar dedicated to him was added.

Under the reign of Tsar Alexis the cathedral was decorated with frescoes by Stepan Ryazanets, some of which remain today. Tsar Alexis also presented the cathedral with a five-tier iconostasis, the top row of icons have been preserved.

Tsaritsa's Chambers

The Nativity of Virgin Mary Cathedral is located between the Tsaritsa's Chambers of the left and the Palace of Tsar Alexis on the right. The Tsaritsa's Chambers were built in the mid-17th century for the wife of Tsar Alexey - Tsaritsa Maria Ilinichna Miloskavskaya. The design of the building is influenced by the ancient Russian architectural style. Is prettier than the Tsar's chambers opposite, being red in colour with elaborately decorated window frames and entrance.

At present the Tsaritsa's Chambers houses the Zvenigorod Historical, Architectural and Art Museum. Among its displays is an accurate recreation of the interior of a noble lady's chambers including furniture, decorations and a decorated tiled oven, and an exhibition on the history of Zvenigorod and the monastery.

Palace of Tsar Alexis

The Palace of Tsar Alexis was built in the 1650s and is now one of the best surviving examples of non-religious architecture of that era. It was built especially for Tsar Alexis who often visited the monastery on religious pilgrimages. Its most striking feature is its pretty row of nine chimney spouts which resemble towers.

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635th Anti-Aircraft Missile Regiment

635-й зенитно-ракетный полк

Military Unit: 86646

Activated 1953 in Stepanshchino, Moscow Oblast - initially as the 1945th Anti-Aircraft Artillery Regiment for Special Use and from 1955 as the 635th Anti-Aircraft Missile Regiment for Special Use.

1953 to 1984 equipped with 60 S-25 (SA-1) launchers:

• Launch area: 55 15 43N, 38 32 13E (US designation: Moscow SAM site E14-1)
• Support area: 55 16 50N, 38 32 28E
• Guidance area: 55 16 31N, 38 30 38E

1984 converted to the S-300PT (SA-10) with three independent battalions:

• 1st independent Anti-Aircraft Missile Battalion (Bessonovo, Moscow Oblast) - 55 09 34N, 38 22 26E
• 2nd independent Anti-Aircraft Missile Battalion and HQ (Stepanshchino, Moscow Oblast) - 55 15 31N, 38 32 23E
• 3rd independent Anti-Aircraft Missile Battalion (Shcherbovo, Moscow Oblast) - 55 22 32N, 38 43 33E

Disbanded 1.5.98.

Subordination:

• 1st Special Air Defence Corps , 1953 - 1.6.88
• 86th Air Defence Division , 1.6.88 - 1.10.94
• 86th Air Defence Brigade , 1.10.94 - 1.10.95
• 86th Air Defence Division , 1.10.95 - 1.5.98

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