First released in 2013, the landmark ‘Good Governance Principles and Guidance for Not-for-Profit Organisations’ document set out 10 fundamental principles of good governance for not-for-profit (NFP) organisations (the Principles). Five years on, it’s time for an update.
The NFP sector has undergone significant change since the release of the Principles in 2013. Regulatory reform, disruption to funding patterns and an increasingly complex operational environment have reshaped the sector in many ways. The AICD is undertaking a consultation to review the Principles and ensure they reflect the new challenges and opportunities facing governance leaders in the NFP sector.
The AICD has released a consultation paper which provides background to the Principles, outlines a proposed approach for their revision and poses consultation questions for comment.
The review of the Principles has three key aims:
- Refine the Principles to reflect current practice of good governance, informed by an up-to-date understanding of the operational context of the NFP sector;
- Introduce descriptions of good governance in the form of ‘supporting practices’; and
- Identify and provide additional resources to assist NFPs to apply the Principles in their unique circumstances, such as further guidance, case studies and templates.
AICD Managing Director & CEO Angus Armour said, “The sector has told us that that this guide has been an incredibly valuable tool for NFPs of all shapes and sizes. 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.”
The AICD invites submissions on the questions outlined in the consultation paper. Any interested party is welcome to make a submission and all submissions will be treated as confidential.
Submissions are now closed.
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