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The Princess of Asturias Foundation

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  2. Transparency and good governance

Transparency and good governance  

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Principles of good practice

Principle no. 1 

Foundations comply with the laws of the state in which they are based, and act in accordance with their bylaws. They comply with the international and European conventions to which their country of residency is party.

Principle no. 2 

Foundations have an identifiable decision-making body whose members and successors should be nominated in accordance with established principles and procedures, and act with the highest ethical standards.

Principle no. 3 

Foundations define a clear set of basic policies and procedures specifying their mission, objectives, goals and related programmes and review these on a regular basis.

Principle no. 4 

Foundations promote efficient organisation and work while ensuring prudent and sustainable management, investment strategies and procedures, and use of resources for public benefit. Foundations ensure proper accounting/bookeeping according to established rules in the state in which they are headquartered. Thay may complement such rules with additional measures on a voluntary basis.

Principle no. 5 

Foundations act in a transparent manner and comply with the regulations concerning transparency in force in the countries in which they operate. They may complement such regulations with additional measures on a voluntary basis.

Principle no. 6 

Foundations organise appropiate monitoring and regular evaluation of their action and programmes.

Principle no. 7 

Foundations share their know-how and experience with peer organisations and other relevant stakeholders to advance good practice and cooperate, whenever appropiate, to maximise their impact in their respective fields of activity.

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