Corporate governance standards for not for profits

The vagaries of corporate governance is a regular and sometimes controversial topic of discussion in Australian business circles.  It is also the subject of much judicial interpretation.

On 1 July 2013 the Australian Charities and Not‑for‑profits Commission Amendment Regulation 2013 (No. 1) (Cth) (Regulations) came into effect by amending the Australian Charities and Not‑for‑profits Commission Act 2013 (Cth). [Read more…]

What is a Corporate Governance Framework?

The term ‘corporate governance’ is often bandied about, but rarely explained in the context of a framework which can be applied to a variety of enterprise types.

So what is it?  Corporate governance is traditionally thought of as the way in which enterprises are directed and controlled.  More recently, corporate governance has been defined as the framework of rules and procedures by which the decisions in an enterprise are made, and how the controllers and held accountable for them.  The term, ‘enterprise’ refers to all types of associations, companies, trusts and other hybrid entities that provide a product or service (Enterprise).

[Read more…]

Why do we need a Privacy Act Compliance Audit (PACA)?

What is a Privacy Act compliance audit?

Businesses have responsibilities pursuant to the Privacy Act 1988 (Cth) (Privacy Act) to make sure that they comply with the ten (10) National Privacy Principles (NPP) in accordance with the Privacy Act.

A Privacy Act Compliance Audit (PACA) is a threshold assessment that assists an organisation to determine whether or not they are compliant with the Privacy Act.  Further, a PACA can provide an organisation with practical go forward methodologies about the way that they collect, hold, use and disclose an individual’s personal information.

At present businesses are preparing to review their processes as legislative amendments come into force in March 2014.  At this time, further obligations will be imposed by the Privacy Act.  This means that they must adhere to a new set of privacy principles called the Australian Privacy Principles (APPs).  Read a summary of the changes here. [Read more…]

Corporate Governance – A leverage point

By Lloyd Russell, Principal -TCB Solutions

Corporate governance means different things to different people and sadly in most family and private businesses this is considered to be the domain of the Accountant or Lawyer While these two critical stakeholders have a crucial role to play in the governance of your business they cannot assist with the development and embedding of the system within the businesses operations. [Read more…]

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