Non-Profit News Service No. 0353 - Assistant Treasurer releases consultation paper about governance arrangements

On 8 December 2011, the Assistant Treasurer announced the release of the consultation paper, Review of not-for-profit governance arrangements.

The government is consulting about what the core organisational governance principles applying to registered not-for-profit organisations should be.

The proposed governance principles are grouped into the following areas:

• duties and minimum standards of responsible individuals, including rules for proper organisational management and running of the entity
• disclosure requirements and managing conflicts of interest
• risk management procedures, including external reviews and auditing requirements
• the coverage of the minimum requirements of governing rules
• relationships with members (where applicable).

The outcomes of the governance review will help form the governance requirements for registered entities in the Australian Charities and Not-for-profits Commission legislation, starting from 1 July 2012.

For information about how to comment on the consultation paper, and to view the paper, refer to Consultation paper - Review of not-for-profit governance arrangements on the Treasury website.

The closing date for submissions is Friday 6 January 2012.

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