We believe in the following principles of good governance:
- Board Leadership – every organisation should be led and controlled by an effective Board of Trustees, which collectively ensures delivery of its objectives, sets its strategic direction and upholds its values.
- The Board in Control – The trustees as a board should collectively be responsible and accountable for ensuring and monitoring that the organisation is performing well, is solvent, and complies with all its obligations.
- The High Performance Board – The Board should have clear responsibilities and functions, and should compose and organise itself to discharge them effectively.
- Board Review and Renewal – The Board should periodically review its own and the organisations effectiveness, and take any necessary steps to ensure that both continue to work well.
- Board Delegation – The Board should set out the functions of sub-committees, officers, the Chief Executive, other staff and agents in clear delegated authorities and should monitor their performance.
- Board and Trustee Integrity – The Board and individual Trustees should act according to high ethical standards, and ensure that conflicts of interest are properly dealt with.
- The Open Board – The Board should be open, responsive and accountable to its users, beneficiaries, members, partners and others with an interest in its work.
The LGF is committed to embedding these principles within its culture as good governance supports effective decision-making. This is achieved by:
- maintaining a well-balanced accountability framework that is based on clear communication and understanding across the organisation of roles and responsibilities.
- Robust performance, financial, risk and information management systems.
- High standards of conduct.
Good governance also gives organisations the capacity to maintain high-quality services and to deliver improvement. When it is based on openness, clarity and honest accountability it will also enhance trust and engagement. By doing this we can uphold the mission, values and objectives.