The Australian Charities and Not‑for‑profits Commission (ACNC) has developed a new guide: Managing conflicts of interest: a guide for charity board members
This guide has been developed to help explain what conflicts of interest are and how they can be managed. This guide explains conflicts of interests and what needs to be considered when they arise.
Conflicts of interest often occur and most people will encounter them when working or volunteering with a charity. They do not need to be a serious problem. However, if not managed properly, a conflict of interest can damage a charity’s reputation and, in serious cases, lead the charity or its board members to break the law.
This guide is for people who are, or are considering becoming, board members of a charity registered with the Australian Charities and Not‑for‑profits Commission (ACNC). It may also be of interest to employees and volunteers of charities. One of the fundamental responsibilities of board members is to always act in the best interests of the charity and in a way that furthers its charitable purpose. There may be times when a personal interest can come into conflict with this responsibility, but through good governance, these conflicts can be identified and resolved, or even prevented.