The Australian Charities and Not-for-Profit Commission (ACNC) has released new guidance on related party transactions.

Related party transactions are common and not necessarily a problem. Often they bring benefits to a charity (for example, discounted goods or services), but they can also give rise to conflicts of interest and there is a risk that they may not be in the best interests of the charity.

It is important for a charity to carefully manage any related party transactions to ensure that they are transparent, free from conflicts of interest, and in the best interests of the charity.

The new resources will assist philanthropic organisations as well as other registered charities to understand their obligations in relation to such transactions and the ways in which they can be effectively managed.

Get the resource: here