Principles of corporate governance and good practice recommendations for major performing arts sector

The Major Performing Arts Board (MPAB), working with the state funding agencies and the Australian Major Performing Arts Group (AMPAG), has developed a set of good practice governance guidelines for the major performing arts sector.

The Major Performing Arts Inquiry recognised that best practice governance and management were critical to the success of the sector, and recommended that MPAB companies strengthen their governance practices.

Accordingly, the MPAB has drawn up principles of corporate governance and good practice recommendations for the sector. They have been developed using as a framework the ASX (Australian Stock Exchange) Corporate Governance Council guidelines that explore these areas, and other publications. The ASX publication outlines ten corporate governance principles and articulates best practice recommendations for each of these.

The MPAB examined these principles and identified eight that have relevance for the MPAB companies' Boards, and has made suggestions as to how these may be taken into account by companies.