Title

Voluntary Governance (VG) in the Not-for-Profit Sector: The Model for Retention and Recruitment of Boards of Directors

Author Faculty (Discipline)

Business

Document Type

Article

Publication Date

1-27-2018

Publication Details

This article was originally published as:

Barnes, L., & Howson, K. (2018). Voluntary governance (VG) in the not-for-profit sector: The model for retention and recruitment of boards of directors. GSTF Journal on Business Review (GBR), 5(2), 1-7. doi: 10.5176/2010-4804_5.2_412

ISSN: 2251-2888

ANZSRC / FoR Code

150303 Corporate Governance and Stakeholder Engagement

Reportable Items

C1

Abstract

This research seeks to explore the current type of Voluntary Governance (VG) mechanisms used to monitor and control Not-For-Profit (NFP) entities at the Board of Directors (BOD) level. It uses case study analysis to investigate the Model rules for NFP Directors. The questions explore the Board and governance mechanisms for NFPs, particularly focusing on the value added by Voluntary Board members, to make recommendations for reporting of Voluntary Governance by NFPs. The Global Financial Crisis demonstrated the importance of Accountability, Transparency and good Corporate Governance of all types of organizations be they Not-for-Profit (NFP) or for-profit. This research demonstrates the obligations of Voluntary Directors in terms of legislation, common law duties and equitable fiduciary duties in relation to governance, social responsibility, transparency and risk management, particularly in a sector that contributes so much to the global economies in terms of employment and GDP [1], [2].

Comments

Copyright © The Author(s) 2017.

This is an open access article that may be accessed from the publisher GSTF here.

At the time of writing Keith Howson was affiliated with La Sierra University.

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