SEEMS the sacrifices one makes for their local tennis club really does count for something.
Especially when you are sentenced in the Victorian County Court for falsifying the books of a now collapsed listed company and providing false information to the corporate regulator during an examination. The former chief financial officer of OnQ Peter Couper was sentenced to a wholly suspended 21-month jail sentence last Friday and a $10,000 fine.
Couper received a "sentencing discount" for helping provide evidence in the prosecution of other individuals linked to the parent company of the now defunct Bill Express. But his sacrifices to the tennis community were also recognised.
"You have engaged in a great deal of community service over the years," said Judge Liz Gaynor when she outlined the reasons for her sentence.
"You joined the Glen Waverley Tennis Club in 1974, serving there as treasurer for five years and 30 years as auditor on a voluntary basis," said Judge Gaynor, who noted how Couper joined the Templeton Tennis Club in 1978 where he served as treasurer and president.
"Your children played tennis there and you continued on in the convener role well after they had finished competing and were eventually awarded a life membership and an annual award, the Couper Award, named after you, is given to the junior
player of the season," said Judge Gaynor.
Social enterprise
Perpetual chief executive Geoff Lloyd, BankSA managing director Jane Kittel and spinmeister to the stars Sue Cato are among the list of corporate luminaries who will provide "webinar" and mentoring support for university students looking develop an idea for a new "social enterprise".
The social enterprise best known for its fortnightly magazine, The Big Issue, yesterday launched a competition where it is seeking ideas for a new program to help homeless and disadvantaged people find stable employment.
The judges who will decide the winner of the The Big Idea competition include the executive chairman of Goldman Sachs in Australia Terry Campbell, former politicians Cheryl Kernot and Natasha Stott Despoja, Telstra chief financial officer and former AXA Asia Pacific boss Andrew Penn and all-round Macquarie do-gooder and former Australian of the Year Simon McKeon.
Slow beer
The four-month-old independent body established to offer "speedy adjudication" on community concerns related to alcohol advertising seems to have a different concept of time to the alcohol industry. The Wowser Complaints Board (aka Alcohol Advertising Review Board) was launched by a group of public health advocates in March to "highlight the fact that more action is needed to pull the alcohol industry into line".
Among some of the concerns raised on the AARB website about the current industry-led Alcohol Beverages Advertising Code Scheme is: "Making a complaint is difficult, confusing and the process is very slow-moving. Often a determination is made after the advertisement in question has finished its run."
Under the current system of self-regulation complaints are usually adjudicated on by the ABAC within a month. Seems several beer campaigns must have run their course in the three months since the new independent body received its first complaint in relation to a Foster's ad. The nation's leading public health campaigner, Curtin University's Mike Daube, who co-founded the new body, told the advertising industry journal AdNews last month: "We are working on our timelines, not the alcohol drink industry's.
"For our first report, we wanted to include what we thought was an appropriate amount of complaints, rather than just a few early ones."
Got a tip? srochfort@fairfax.com.au
Frequently Asked Questions about this Article…
What happened to former OnQ chief financial officer Peter Couper?
Peter Couper, the former CFO of OnQ, was sentenced in the Victorian County Court after being found to have falsified the books of a now-collapsed listed company and provided false information to the corporate regulator. He received a wholly suspended 21-month jail sentence and a $10,000 fine.
Why did the court factor in Peter Couper’s community service when deciding his sentence?
Judge Liz Gaynor noted Couper’s extensive volunteer work for local tennis clubs — serving as treasurer, long-time auditor, club president and being awarded life membership — and said those community contributions were relevant when outlining the reasons for his sentence.
Did Peter Couper cooperate with investigators in the Bill Express/parent company prosecutions?
Yes. Couper received a sentencing discount because he helped provide evidence in the prosecution of other individuals linked to the parent company of the now-defunct Bill Express.
What is The Big Issue’s 'The Big Idea' competition and who is supporting it?
The Big Issue launched 'The Big Idea' competition to find programs that help homeless and disadvantaged people secure stable employment. Corporate leaders offering webinar and mentoring support include Perpetual CEO Geoff Lloyd, BankSA managing director Jane Kittel and adviser Sue Cato. Judges include Terry Campbell (Goldman Sachs Australia), Cheryl Kernot, Natasha Stott Despoja, Andrew Penn and Simon McKeon.
How might investors notice corporate engagement with social enterprise programs like The Big Issue competition?
The article shows prominent corporate figures are lending expertise and mentoring to a social enterprise competition, highlighting how businesses and executives can engage in community-focused programs. For everyday investors, this is a sign of companies and leaders taking part in social initiatives, although the article does not discuss financial implications.
What is the Alcohol Advertising Review Board (AARB) and why was it set up?
The Alcohol Advertising Review Board (aka the Wowser Complaints Board) was launched by public health advocates in March to offer what it calls 'speedy adjudication' of community concerns about alcohol advertising, aiming to address perceived shortcomings in the existing industry-led complaints process.
How does the AARB’s timeline compare with the current industry-led alcohol advertising complaints system?
The AARB says the current industry-led Alcohol Beverages Advertising Code Scheme is slow, sometimes issuing determinations after an ad’s run has finished. By contrast, the existing ABAC process typically adjudicates complaints within a month; the AARB says it is still working on its timelines.
What corporate governance and investor risk lessons are illustrated by the OnQ/Bill Express case?
The case in the article highlights that falsifying company books and providing false information to regulators can lead to company collapse and criminal charges for executives. It also shows that cooperation with investigators can affect sentencing outcomes. These are governance issues everyday investors watch when assessing company management and risk.
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