Following an eight week consultation with the sector, a new Code of Governance for Welsh housing associations is now available.The code takes a different approach to traditional governance practices, focusing on organisational culture rather than processes.
It comprises seven foundation principles for good governance, including:
1. Organisational Purpose
The board is clear about the organisation’s aims and ensures that these are being delivered effectively and sustainably.
Every organisation is led by an effective board that provides strategic leadership in line with the organisation’s aims and values.
The board acts with integrity, adopting values and creating a culture which help achieve the organisation’s purposes. The board is aware of the importance of the public’s confidence and trust, and board members undertake their duties accordingly.
4. Decision-making, Risk & Control
The board makes sure that its decision-making processes are informed, rigorous and timely and that effective delegation, control and risk assessment and management systems are set up and monitored.
5. Board Effectiveness
The board works as an effective team, using the appropriate balance of skills, experience, backgrounds and knowledge to make informed decisions.
The board’s approach to diversity supports its effectiveness, leadership and decision-making.
7. Openess & Accountability
The board leads the organisation in being transparent and accountable. The organisation is open in its work, unless there is good reason for it not to be.
See our new code in full here.