AICD calls on NFPs to have their say on new Principles
The Australian Institute of Company Directors is seeking the views of the Not-for-Profit community in its review of the Good governance principles and guidance for not-for-profit organisations.
First released in 2013, the landmark Principles set out 10 fundamental principles of good governance for not-for-profit organisations.
Each of the principles is supported by guidance on how they can be applied in practice and provides commentary on the role of boards and directors in implementing them.
AICD Managing Director & CEO Angus Armour said that five years on from the original publication, it was time to update the Principles to reflect the new challenges and opportunities facing governance leaders in the NFP sector.
“The sector has told us that that this guide has been an incredibly valuable tool for NFPs of all shapes and sizes,” he said.
“We want to ensure that the new guide is an even more effective and useful tool for directors in achieving good governance, as well as one that can be used by a wide range of NFP organisations.
“That is why the input of those from across the NFP sector is so valuable.
“The 2018 version of the Principles will rely on the feedback and input we receive from the sector.”
The AICD has released a consultation white paper and is inviting written submissions from interested parties. The AICD has proposed making minor refinements to the Principles themselves, as well as introducing descriptions of good governance in the form of supporting practices.
Consultation begins on 17 April 2018 and will be open for two months. The AICD will also conduct face-to-face consultations with focus groups, as well as with the Institute’s policy committees and division councils.