CC25 : Charity Commission updated finance guidance for trustees
The Charity Commission has updated a key piece of its financial guidance – Charity finances: trustee essentials (CC25). The guidance is a concise 15 page document that provides a list of ‘musts’ and ‘shoulds’ that can be implemented to ensure the Charity delivers upon its charitable aims effectively. The guidance focuses on key areas such as making the most of charity finances, income generation and using other resources, but also provides links to more detailed Charity Commission guidance.
Areas covered include:
Financial management – managing money carefully in order for the Charity to meet its short, medium and long term aims.
Risk management – having a robust risk management process to enable the Charity to protect its assets.
Internal financial controls - ensuring there are sound financial controls to protect funds from misuse.
Financial investments – making investments to achieve charitable aims
Charity fundraising – having systems in place to ensure compliance with fundraising law and ensuring good practice.
Staff and volunteers – being aware of the legal obligations and the management policies in place
Caron Bradshaw, CEO of the CFG said that “Charities must put financial management and leadership at the heart of their organisation in the years ahead”.
During 2017 MHA MacIntyre Hudson is continuing to support the CFG in the delivery of its Charity Finance Essentials training course for trustees. The next session will be publicised shortly.
For more information please contact Sudhir Singh, Head of Not For Profit sector team.