Directors - Governance & Training
Directors – Governance and training
The reputation of any professional organisation depends to a large extent upon good governance, strong ethical standards and policies observed by its board of directors and senior management.
To ensure that directors maintain a high standard of integrity and probity, and understand their roles, it is mandatory that all directors have attended a course in the principles of corporate governance and directors’ duties and responsibilities. Below are the main clauses from the ACCA Constitution which relates to governance and training:
Clauses 18.1 and 18.2 -
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A Director must
- be of good character,
- be a fit and proper person,
- ensure that they complete a valid seminar or course under clause 16.2(d); and
- be an Australian citizen residing in Australia.
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Nomination for election as a Director shall include:
- a brief resume of the person including his or her qualifications and relevant experience in Australia or overseas, and
- a certified copy of a document which attests that the nominee has completed a seminar or course, whether from an approved institution or by a consultant as outlined under clauses 16(2)(d).
Clause 16.2 (d):
- The Board shall:
(d) ensure that Directors complete a seminar or course in the principles of corporate governance and directors’ duties and responsibilities, by either:
- arranging for an approved consultant to attend the Company premises to provide this service, or
- producing and maintaining a list of approved institutions which provide a similar or comparable service, and
(iii) once completed by the Director, the certification of this seminar or course will remain valid for a period of two years.
The following is a list of approved institutions as per clause 18.2 (b):
- Governance Institute of Australia –
Approved Course: “Not-for-Profit Officers, Directors and the Board”,
- Australian Institute of Company Directors –
Approved course: “Foundations of Directorship: Governance for Directors”
Updated July 2019