//. WHAT IS THE MANAGEMENT BOARD?

The Management Board has responsibility for oversight of the activities and affairs of the Association, and works to protect and enhance the value of the assets of the Association in the interests of the Association and it’s current and future members.

Specifically, the Management Board is responsible for:
a) reviewing and recommending appropriate frameworks of governance and oversight of the Association to the Executive Committee;
b) reviewing and recommending for approval to the Executive Committee each year the business plan, operating budget, and capital expenditure plan;
c) ensuring there are adequate resources available to meet the Associations objectives;
d) promoting ethical and responsible decision-making;
e) safeguarding the integrity of financial reporting;
f) ensuring that effective risk management procedures are in place and are being used;
g) monitoring the Chief Executive and management’s performance within the strategic direction and operating frameworks of the Association;
h) appointing and removing the Chief Executive and overseeing succession plans for senior management;
i) reviewing the performance of the Management Board and ensuring it remains appropriately skilled to meet the changing needs of the Association.

The Management Board has specific service responsibilities for:
a) determining overall service targets, and recommending these to the Executive Committee;
b) monitoring service targets and providing feedback on these to the Executive Committee;
c) providing the Executive Committee with a monthly summary of progress made towards service objectives, and highlighting any major issues that need attention; and
d) investigating reasons that any targets can not be reasonably met, recommending strategies to the Chief Executive, and explaining the situation to the Executive Committee.

The Management Board has specific audit responsibilities for
a) overseeing the employment of the independent auditors;
b) reviewing the plan for the audit and related services;
c) reviewing the audit results and material communication between the auditors and management; and
d) communicating progress, findings, and recommendations to the Executive Committee.

The Management Board may choose to delegate audit responsibilities to an appropriate member of the Management Board (other than the Chief Executive) or form an Audit Committee to deal with these matters.

The responsibility for achieving the direction and objectives of the Association through leadership and management of its activities and affairs is delegated to the Chief Executive, who is employed by and reports to the Management Board.