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Hear this out loud PauseThe Code of Conduct and Ethics for Directors (?Code?) describes the standards of conduct and ethical behaviour for Directors in the performance and exercise of their duties and responsibilities as Directors of the Company or when representing the Company.
Here are a few types of people who should avoid serving on Boards: Those Who Lack Objectivity. ... People Who Are All Talk And No Action. ... Those Who Are Conflict-Averse. ... People Who Don't Play Well With Others. ... Those Who Are Greedy. ... People Who Are Resistant To Change. ... People Who Are Not Team Players.
Here are 10 common governance mistakes made by nonprofit boards: Failure to Understand Fiduciary Duties. ... Failure to Provide Effective Oversight. ... Deferring to a Founder. ... Failure to Stay in Your Lane. ... Failure to Adopt and Follow Procedures. ... Failure to Keep Good Records. ... Lack of Awareness of Laws Governing Nonprofits.
Common Unethical Practices Your Board Should Avoid Financial Fraud. Financial fraud refers to deceptive practices or intentional misrepresentation of financial information ? deliberately deceiving stakeholders. ... Insider Trading. ... Bribery and Corruption. ... Conflict of Interest. ... Failure to Protect Stakeholder Interests.
A code of conduct should guide sound decision-making and behaviour and summarise which priorities are essential to your organisation. Since the board of directors helps set the organisation's tone from the top, a good code of conduct can help foster a climate of ethical leadership.
501(c)(3) public charities must have at least 3 board members. Youth under the age of 18 may serve on a board. A board may have either 3 youth directors, or ? of the total number directors on the board may be youth ? whichever number is fewer.
Hear this out loud PauseBoard members should be as open as possible about all the decisions and actions they make. They should give reasons for their decisions and restrict information only when the wider public interest clearly demands it. Honesty.
Hear this out loud PauseFully participate in Board of Directors meetings and other public forums while demonstrating respect, kindness, consideration, and courtesy to others. Responsiveness and attentive listening in communication is encouraged. Prepare in advance of Board meetings and be familiar with issues on the agenda.