Advisory Boards and the Rise of the Ethics Debate

Increased complexity and volatility are driving the use of advisory boards in the market like never before.  The Best Practice and Ethics Advisory Board for the advisory board profession met this week to explore the key market trends in the 2023 State of the Market Report that will be released in May.

The rise of the utilisation of advisory boards worldwide is an incredible opportunity for organisations to have more inclusive, diverse and thoughtful conversations. Executives chairing and participating on advisory boards, can be more impactful when they apply best practice and ethical principles within a robust governance framework.

Members of the Best Practice and Ethics Advisory Board are Sandra Gamble (Chair), Stuart Allinson, Dr Elizabeth Armstrong, Jane Beaumont, Nigel Hennessy, Dr Michael Drew, Janelle van de Velde, Eduardo Esteva and Louise Broekman.

“We are carefully navigating the future of the role of advisory boards and where the ethical boundaries lie in jurisdictions. In 2023, the Best Practice and Ethics Advisory Board will have strong debates, with strong regard for input from the market and advisory board professionals.  The Best Practice and Ethics Advisory Board will consult advisory board professionals and assess practice within the sector (the advisory board profession) and assess how better practice can improve the decision-making, risk management and stakeholder standing of client-organisations.

Sandra Gamble, Chair of the Best Practice and Ethics Advisory Board

The 2023 agenda is full.  Following the release of the State of the Market Report, the Best Practice and Ethics Advisory Board will consult advisory board professions on its focus areas and later, on changes it will propose to the ABF101: Advisory Board Best Practice Framework™ and Code of Ethics.

Louise Broekman, Chair of the Global Research Council, the research division of the Advisory Board Centre, said “the Best Practice and Ethics Advisory Board is a critical independent body to evaluate living research on where the market is today and where it needs to go.  The speed of the development in the advisory board sector requires an agile approach to the debate and adoption of best practice in the market.”

Individuals and organisations seeking to provide input into the ethics agenda of advisory boards, please contact [email protected]

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