Chair of the Basketball Australia Board Scott Derwin welcomed the ASC’s leadership in driving integrity and sound administration across the board.
“We certainly welcome the ASC’s support for all sports to promote strong governance,” Mr Derwin said.
“Basketball Australia will work with the Commission and our stakeholders to determine how the new guidelines apply to basketball, and where we can further strengthen our board and organisational structures.”
The ASC this morning announced an increased focus on good governance and accountability for sports through two primary dimensions:
• Six key governance principles for sports receiving more than $5 million per annum in ASC funding, with financial implications for non-compliance; and
• Stronger links between performance and funding, with a continued emphasis on participation.
Key changes put forward by the ASC include:
• Improved organisation structures;
• Improved Board election processes and gender balance;
• Zero tolerance for any lack of transparency by sports on how they spend money;
• Public company level requirements for sports financial reporting practices; and
• Proper supervision by Boards of sports science practices.
The Mandatory Sports Governance Principles outlined by the ASC today include:
1. Structure for sport – including a single national entity for all forms of the sport with horizontal integration of disciplines; adherence to a strategic direction set by the national entity; and the national body established as a company limited by guarantee;
2. Board composition and operation – including a staggered rotation system for Board members; Nominations and Audit/Risk Committees; a Chair elected by the Board; gender balance and a minimum number of Board meetings; and
3. Sport transparency, reporting and integrity – including annual reports consistent with Corporations Act requirements; improved financial reporting; rolling multi-year strategic plans with clear; and measurable targets and improved reporting to the ASC.