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Connie Carnabuci will help evaluate governance structures amid heightened scrutiny of professional services firms.
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Ex-ABC general counsel to join BDO board as independent director
20 June 2024
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ABC’s former top lawyer will join BDO as an independent, non-executive board director to help the firm stay on top of governance issues should scrutiny of the big four turn to the mid-tiers.
The appointment of Connie Carnabuci, effective 1 July, takes BDO’s board to eight members and brings the total number of independent members to two after chairman David Fagan joined in 2020.
“We are pleased to welcome Connie Carnabuci to our board,” chief executive partner Tony Schiffmann said.
It is Carnabuci’s fourth appointment to a company board in addition to sitting on the boards of Hospitals United for Sick Kids, Sydney Children's Hospitals Foundation and foreign exchange company OFX.
The firm said its choice of Carnabuci as a second independent director was a “proactive measure”, taken amid heightened media and parliamentary scrutiny of the professional services sector.
Carnabuci was expected to advise BDO on governance, compliance and ethical risks, drawing on her experience with mapping risks and opportunities to respond to issues such as cyber security, data and AI.
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“We’re at a time where our clients and stakeholders are placing a stronger emphasis on ethical conduct, compliance with regulations and the maintenance of professional standards; Connie’s background and extensive experience will be highly valued,” Schiffmann said.
“This appointment reflects our ongoing commitment to exceptional governance and risk management practices and reinforces our position and commitment to transparency and accountability across our sector.”
Carnabuci served as general counsel for the ABC between 2017 and 2021 where she “spearheaded a transformative change program to modernise the legal function and deliver quality services at scale to support the public broadcaster's digital transformation”, BDO said.
Earlier in her career, she was a senior partner at international law firm Freshfields Bruckhaus Deringer and a partner at Mallesons Stephen Jaques (now known as King & Wood Mallesons).
Carnabuci said: “I am honoured to join the BDO board at this exciting time and look forward to contributing to the firm’s continued growth and success.”
“BDO’s dedication to client excellence, governance and transparency resonates with my professional values, and I am excited to be part of a firm that is committed to leading by example in the industry.”
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