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Why implement risk management or good governance practices?
- Reduces the chance of legal action against the association;
- Leads to more appropriate handling of many delicate issues and the sport functions a lot more smoothly, great harmony
- Reduces the risk of personal liability of directors/executive.
Does the Board carry insurance?
- Public liability or property damage;
- Director’s Insurance
There is no magic to risk management – common sense and thinking ahead are key
Areas of importance:
- Financial affairs;
- Two common law duties: Care and diligence; and the duty of loyalty and good faith;
- Ensure that the Association meets all requirements in law;
- Good demarcation of roles between the board and CEO/Administration;
- Sound Constitution;
- General Advice;
- Strategic Plan and Regular Reviews
For further reading on best governance practice Paul recommends: “Australian Sports Commission: Sports Governance Principles found on the following link: