The Reform Council through the National Compact (the agreement between the Australian Government and the not-for-profit sector to find new and better ways of working together based on mutual trust, respect and collaboration) is interested in starting a conversation with the sector about appropriate governance arrangements that work well in the not-for-profit sector.
The explanatory memorandum to the ACNC Bill indicates that registered charities will be required to meet minimum principle-based governance standards. “Governance” is the set of practices and procedures in place to ensure that an entity operates to achieve its objectives in an effective and transparent manner.
There are a number of governance codes already being used by the sector to run strong and effective organisations. They are after ideas on what are the effective codes being used by the not-for-profit sector and what are the critical elements of these codes that make them effective. They will then draw on this information to advise Government on what they think should be in the minimum standards.
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