Governance Guides

An increasing proportion of Irish housing is contained within multi-unit developments where, under Irish law, shared amenities, facilities and services are owned, managed and maintained by an owners’ management company (OMC). In most circumstances, an OMC is owned by its members, who are owners of the units in the development. An OMC does not trade for commercial gain and its directors are mostly volunteers, sourced from membership. They are often incorporated and subject to company law, as well as other legislation and regulation, including the Multi-Unit Development Act 2011.

This concise guide, produced jointly by Chartered Accountants Ireland and The Housing Agency, highlights 10 key considerations for directors of OMCs and provides an overview of the governance requirements. It provides practical advice on some of the common challenges faced by directors of OMCs, shares insights on how these might be addressed and includes links to further sources of information.

Organisations are investing more in getting their culture right. There can be many influences challenging business leaders and making them consider whether they need to emphasise or reshape the culture in their organisation. This guide encourages decision-makers to assess the culture within their organisation and to consider if they need to do things differently to achieve success. The various roles that Chartered Accountants play within an organisation involve a level of influence in assessing, defining and shaping organisational culture. They are often positioned with a strategic, overarching view of what is happening in a business unit or across an enterprise. By applying their analytical and reporting skills, they can use their access to information, insights, as well as opportunities to observe behaviours across an organisation, to significantly support the development of a healthy culture.

Chartered Accountants Ireland aims to provide meaningful value to our members involved, or thinking about getting involved, in the charities and not-for-profit sector (‘the sector’) in a non-executive/trustee capacity. Of course, you do not need to be a Chartered Accountant to benefit from the contents and therefore we encourage our members to share this guide with their own network. The guide assumes a certain pre-existing understanding of technical knowledge as well as ethics and governance standards. Production of the guide was largely informed by research conducted within the sector resulting in some useful practical advice and useful insights. Whilst not a comprehensive deep dive, we hope it provides you with a good steer.