Membership as a Fellow (FAICD)

A Fellow is an appropriately qualified and/or experienced director of one or more entities that carry on business activities under the leadership of a CEO who reports to a board of directors that meets regularly and functions under appropriate corporate governance principles.

Entry to the category of Fellow is by one of three methods: the standard method, by special exemption or by invitation.

Standard method
Applicants for admission to the category of Fellow will be admitted provided that the membership committee is satisfied that they are fit and proper persons and meet the following criteria. They:

  • have completed the Company Directors Course or equivalent courses determined by the Australian Institute of Company Directors’ board and passed all required assessments; and
  • have had five (5) years’ experience as a director of a significant company, government business enterprise, or not-for-profit entity; or
  • have had five (5) years’ experience as a senior executive accountable to the board of a significant company, government business enterprise, or other corporate business undertaking; or
  • are an appropriately qualified and experienced public servant in the position of Head of Department, Secretary in a government department, or equivalent senior role who practises and has a high degree of familiarity with, appropriate governance principles in the carrying out of her/his function or role.

For the purposes of these criteria, a “significant company” means an incorporated business with turnover in excess of twenty million dollars (AUD) or 100 or more employees. Non-trading family investment companies, sole director companies and small consultancies do not qualify. To be taken into account, government business enterprises and other corporate business undertakings (such as schools, charities or associations) should have comparable standards of corporate governance to the “significant company” above.

To ensure the suitability of the applicant from a professional and ethical point of view as a director, two written references from referees who are Fellows of the Australian Institute of Company Directors must be obtained.

Concurrent directorships may not be added together in determining years of experience.

By special exemption
Applicants for admission to the category of Fellow by special exemption are admitted if the membership committee is satisfied that they are fit and proper persons and have had, at least ten (10) years experience as a director of:

  • one or more listed public companies; or
  • a company, government business enterprise or not-for-profit organisation with a turnover in excess of twenty (20) million dollars (AUD) or one hundred (100) employees. Non-trading family investment companies, sole director companies and small consultancies do not qualify.

To ensure the suitability of the applicant from a professional and ethical point of view as a director, two written references from referees who are Fellows of the Australian Institute of Company Directors must be obtained.

Concurrent directorships may not be added together in determining years of experience.

By special invitation
Our board may, at anytime by resolution, invite a person to become a Fellow, and admit such a person as a Fellow on the grounds of expertise, experience of standing although they have not satisfied the prescribed conditions of admission.

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