AICD launches revised governance guidance for NFPs
The Australian Institute of Company Directors (AICD) has updated their Not-for-profit Governance Principles – a handy resource providing a benchmark for leaders operating not-for-profits (NFPs).
This second edition of the Principles reflects changes in the sector since they were first released in 2013, including the heightened expectations of good NFP governance.
The Principles provide a framework for both large and small NFPs to understand and achieve good governance practices, including information on the board’s roles and responsibilities, managing conflicts of interest, organisational culture, stakeholder engagement and risk management.
The Principles comprise three components: 10 individual principles, accompanied by supporting practices and guidance. They are designed primarily for directors and executives but will be useful to others involved in the governance of NFPs, such as managers, staff and volunteers.