CSA’s Director of Policy Judith Fox says the guide details a clear framework for implementing a plan that will manage actual or implied conflicts of interest before they arise – a key issue for not-for-profits (NFPs) and their governance.
“It is important to remember that directors of NFPs have the same fiduciary duties as their counterparts in private and public listed companies, so the person responsible for implementing governance or advising the board in these organisations needs to know how to manage the vexed issues of conflicts of interest and loyalty,” says Fox.
“Just as the management of companies by their officers and directors is under increasing scrutiny by regulators and shareholders, so too is the management of NFPs.”