Accountability and transparency in the corporate governance of large Maltese voluntary organisations

Abstract

Purpose: The purpose of this research is threefold. The first objective of this study is to analyse the work of the Board of Administrators in Maltese VOs, and the laws they abide by and codes they follow for their governance structure. The second objective of this research is to analyse the extent of accountability and transparency within Maltese VOs, and how they practice such pillars in their structures. In light with the aforementioned objectives, the third objective intends to determine any recommended improvements from the VOs with regards to accountability and transparency within large Maltese VOs. Design: Objectives were achieved by the implementation of a qualitative research design. Semi-structured interviews were conducted with different positions from twelve different large Maltese VOs. A semi-structured interview with the OCVO also followed. Findings: Organisations highlighted their work along with their mission and vision with the society at large. They are aware of the importance of governance within VOs, adding that it keeps the organisations afloat. Furthermore, they understand the importance of accountability and transparency between the administrators themselves and also towards their stakeholders. The OCVO highlights the importance of full accountability and transparency especially in large VOs due to their cashflow and their dependency on the stakeholder. VOs also suggest the need of more training and support from the OCVO. Conclusions: The study concludes that even though large VOs do have systems in place with regards to governance, improvements are still needed to better enhance the pillars of accountability and transparency in this sector. A more detailed code for different sizes of the VOs is needed to have more effective accountability and transparency within the VOs. Value: This study expresses the use of governance within the administrators of VOs and how they administer accountability and transparency. Such study will also promote the development of the Voluntary Sector and can be a steppingstone to enhance the Code of Governance within VOs.