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The Australian Institute of Company Directors (AICD), in partnership with the Australian Scholarships Foundation (ASF), are pleased to make 200 full scholarships available to the Australian not-for-profit sector in 2021/2022. The scholarships will be offered in all states and territories across Australia and will enable directors, executives and emerging directors of NFP organisations with a turnover of less than $2m to attend the AICD’s Governance Foundations for Not-for-Profit Directors program.
The Governance Foundations for Not-for-Profit Directors provides participants with an understanding of fundamental compliance and performance related roles and responsibilities of directors, specifically in the areas of governance, risk, financial performance and strategy. This program is offered over 1.5 days and includes the following 3 modules:
Duties and Responsibilities of the Not-for-Profit Director
Gain an understanding of the role of the not-for-profit director in governing the organisation and how this differs to the for-profit sector.
Understand the potential liability of directors and committee members.
Appreciate the balance between the compliance and performance roles of the board.
Strategy and Risk for the Not-for-Profit Director
Appreciate the director’s role in setting and overseeing strategy whilst monitoring risk.
Identify the link between strategy and risk management, risk culture and effective leadership.
Enhance organisational performance through effective contribution to strategy formulation.
Understand personal risk appetite and how this affects board decisions.
Finance for the Not-for-Profit Director
Learn to interpret the major elements of the financial statements and the linkages between them to evaluate the financial performance of the organisation.
Explore how to apply and interpret financial ratios applicable to not-for-profit organisations.
Scholarship inclusions
Each scholarship covers 100% of the associated course fees and is valued at up to $1,491 each. Travel and/or accommodation (if necessary) are to be covered by the successful candidates or their NFP organisation.
Scholarship timeline
26 July 2021 Applications open
20 August at 5pm AEST Applications close
October 2021 All scholarship applicants are notified of the selection outcomes