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IIA-Australia launches 20 critical questions directors should ask of NFP entities

by IIA-Australia | Jul 17, 2019

IIA-Australia has released a new guide for directors in not-for-profit entities providing a list of 20 critical questions they should be asking.

IIA-Australia CEO Mr. Peter Jones said the 20 critical questions series was a quick and easy reference point for directors to focus on threshold questions that should be addressed by the boards of the estimated 257,000 non-profit organisations operating in Australia.

He said that the Australian Charities and Not-For-Profits Commission (ACNC) reported in the 2016 financial year that Charities had more than $142 billion in annual revenue, and they remain one of Australia’s most significant employers.

“Good governance structures are also important in the Charity and NFP sector as it is in the financial services sector,” he added.

Mr. Peter Jones said that in 2017–18, the ACNC revoked the charity registration of 22 organisations following investigations, which was higher than any other year.

He said to date, the ACNC has reported that charities have corrected over $20 billion in revenue and $354 million of assets, to improve the accuracy of the Charity Register.

The 20 critical questions series asks the basic questions directors should address of the governance structure of an entity either in a charity or not-for-profit organisation.

20 critical questions series is freely available at https://www.iia.org.au/technical-resources/20-critical-questions-series

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