The ASIC gives this useful checklist for company directors - here we've modified it for nonprofit organisations generally
You are unlikely to get into trouble if you:
- are honest and careful in dealing with your organisation, and on its behalf with others
- understand your legal obligations and make compliance with them part of your business
- keep informed about your organisation's financial position and performance
- get professional advice or more information when you are in doubt, and
- give the interests of the organisation, its members and its creditors top priority.
See the ASIC's information on the duties of officeholders.