Introduction To Board Governance
Day 1 – Board Roles and Responsibilities
- Basic responsibilities and fiduciary duties of directors
- Roles and responsibilities of the board versus management (and how not to cross the line)
- Specific responsibilities of the board: Strategy and planning, Risk management and oversight, Budgeting and financial stewardship, Human resources, Public relations, Board recruitment, development and assessment, Board diversity
- Governance structure and committee structures and delegation of authority
- Conflict of interest, Codes of conduct and Director Liability, Insurance and Indemnification
- Ethics and Integrity, Culture, Sustainability, Diversity, Equity and Inclusion
Day 2 – Strategic Planning, Risk Management and Fraud
- Understanding the organization’s stakeholders
- The purpose and application of a strategic plan
- Mission, vision and values
- Setting objectives, assessment of programs and allocation of resources
- Defining risk and understanding the types of risks organizations face
- Risk management process – board versus management roles
- Risk management tools – measurement, assessment and planning for risk
- Understanding fraud and the circumstances that give rise to fraud
- How fraud is detected and what can be done to prevent it
Day 3 – Financial Stewardship – Budgeting, Reporting and Oversight
- Role of the Board, Finance and/or Audit Committee, Treasurer, Management and External Auditor
- Tie-in of budget and financial reporting to organization’s strategy
- Attributes of good financial reporting and strong financial stewardship
- Understanding financial statements
- Performance measurement for programs/strategic priorities
- Key performance measures
- Financial risks, policies and internal controls
Alternate sessions will be offered if there is enough interest.
General description: This three part program is designed for new directors and those who want a refresher on the roles and responsibilities of directors of not-for-profit organizations. Each session will be three hours in length, with time for questions and answers.
Instructor: Murray Short, MBA, CPA, CA, C.Dir.
Murray is the partner in charge of the not-for-profit practice at RLB. He provides consulting, accounting and assurance services to agriculture, health and social services, religious, education, sports and recreation, foundation, business and member associations and municipal and provincial government clients. He has served on many local boards in Guelph and Toronto including a hospital/long-term care facility, a public company, an arts organization, a municipal government enterprise, and business and not-for-profit member associations. He also holds the Chartered Director designation, which is one of two internationally recognized governance designations offered in Canada.
Regular Price: $450.00