New governance principles long overdue: Coates

19 March 2013

AOC: The President of the Australian Olympic Committee (AOC), John Coates, fully supports the new governance standards announced today by Australian Sports Commission (ASC) Chair John Wylie.

“This is a long overdue approach by John Wylie and we share his views on striving for excellence. This move will only benefit our athletes in the long term”.

“The threatened penalties for sports who do not comply may appear harsh but I urge those sports to adopt these reforms as soon as possible” Coates said.

“We expect our athletes to excel on the field of play, for that to happen our sporting organisations must also excel off the field by having the right structures and management in place”.

“Improved corporate governance leads to greater transparency and allows Australian taxpayers to better understand how their money is being spent. In a nutshell the taxpayers deserve to know they are getting bang for their buck when it comes to funding sport”.

“For a long time now the AOC has adopted the ASX Best Practice Recommendations. Our AOC Executive is committed to achieving and demonstrating high standards of corporate governance”.

“The AOC includes a detailed Corporate Governance statement in its Annual Report to demonstrate to readers its compliance with Best Practice Recommendations. We are fully transparent”.