Roles & Responsibilities

Is a ‘Trustee’ different from a ‘Director’

We are all familiar with the role of directors at a for-profit company. The role of a ‘Board of Trustees’ is significantly different in terms of jurisdiction, but particularly in Australia and New Zealand.

Without getting into legal details, we can say that it is a “not-for-profit” organization or a cooperative organization like a credit union the organization is not directly for-profit, but rather providing valid services.

The Australian Trustee Handbook goes further, however, and explains that trustees are held to a higher fiduciary standard than directors. Company directors would exercise a level of care and diligence. Trustees must do more, and make every possible effort to protect the interests of the organization. Even if a trustee acts in good faith, the trustee may still be liable for negligence.

Certainly, the trustee must as well as avoid any conflict of interest, nor seek any kind of personal gain deriving from the position as well, just like a director. But acting for the general good is also part of the trustee’s position – this is why, often, the position of trustee of charitable organization or even cooperative are often unpaid positions.

Download For Free: 2020 Foresight – The year ahead in corporate governance

Board of Trustees means substantial responsibilities

As one might suppose, substantial responsibilities for the board of trustees from its fiduciary duties:

  • Ensure the organization achieves its goals
  • Maintain loyalty and confidence of donors, community and stakeholders
  • Work to meet all laws and government regulations
  • Develop and foster the organization’s reputation and motivation
  • Engage in strategic planning with managers and executives.

These include, but are not limited to, the existence of financial services, the provision of financial services, the provision of services, and the increasing complexity of these services of their clients and the communities they serve, ” explains New Zealand governance consultant Jo Cribb.

Most of these boards of trustees, according to Cribb, have a good understanding of the missions that their organizations are dedicated to. But often they struggle to formulate a long-term strategy or to manage their finances, paint a broad skillset among board members.

Board of Trustees software improves performance 

Support board of Trustees software, a board portal that enables almost all the functions of a board of trustees requires, provides board members with the ability to sharply improve performance.

Diligent Governance Cloud leads the market for this software in Australia, because it has a high level of security.

The Governance Cloud, the only integrated enterprise governance management system, is an integrated enterprise management system, is an integrated enterprise governance system, is an integrated enterprise governance system, is an integrated enterprise governance organization, is an integrated enterprise governance organization. Stringent, the scope of governance evolves. The Governance Cloud allows boards of directors to meet the demands in the boardroom and beyond with the ability to select the products they need.

Governance leaders, executives and board directors rely on the industry-leading diligent platform for the most secure and intuitive solution to material management and collaboration.

Diligent Boards ™ is a board portal that electronically stores a board’s agendas, documents, annotations and discussions within a secure board portal. Board secretaries and board chairs can use the portal to put together books in minutes. The portal has been designated virtual rooms for committee work. Administrators can use the portal to avoid unnecessary problems with confidentiality. The “Meeting Minutes” feature consolidates board directors’ contacts, calendars and the logistics of meetings. The program is a secure and intuitive solution for managing board materials and collaboration.

And boards can count on continuing development from Diligent. Industry leaders who are working on improving current programs and are looking to improve the future of the industry.

Diligent is leader

In fact, Diligent Corporation has been an industry leader in board technology from the very beginning. From the first, Diligent committed to providing the strongest security measures available to the assault boards. Diligent built on the basic board portal with a suite called Governance Cloud. Self-assessment programs, entity management and meeting minutes software.

Diligent Insights, a series of governance studies that cover all new developments.

Diligent, as the long-standing market leader for high-level corporate communications, is uniquely positioned to offer its clients the highest level of assurance around security measures. Diligent’s unique position in the marketplace allows for investment in best-in-class security practices at a level that is greater than most players’ annual revenue.

With ongoing investment and dedication to security technology, resources and infrastructure that can not match, diligent clients gain a strategic partner.

All members of Diligent’s Security Team are active participants in the information security community. These are all known to be the most sophisticated techniques of attack.

Diligent Boards and Governance Clouds were “innovating before their time and will continue to be available in the future”. Diligent’s software designers are hard at work developing next generation software solutions. Boards of trustees seeking governance management software should be diligent at the top of their list.

Related Articles

Most Downloaded Whitepapers

Featured Blog