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Launch of new charity review project

This month a new project has been announced by the Charity Commission, with the aim of helping charities to review their financial controls and risk management systems.

The Chief Executive of the Charity Commission, Sam Younger, made the announcement at the ICAEW’s Charity and Voluntary Sector Group Conference, held on 13 September 2011 in London, stating that this project was to act as a precursor to a larger intended Review Programme, which was being developed alongside the sector and other relevant partners.

Under the review project, charities will be offered a free review of their existing financial management systems and controls, to be carried out by an experienced ICAEW member, with knowledge of the relevant sector. The results of these reviews will then be collated by the Commission, and used to gain a better understanding of the challenges and obstacles facing charities today, with the knowledge gained feeding into the design of the larger Review Programme.

It is hoped that this project, along with the following Review Programme, will see the first steps being taken towards a wider cultural change, affecting how charities are managed and run, how trustees view their own roles, and how standards are observed and applied.

Ultimately, the view is to make charities more self reliant, so that the Charities Commission does not need to become so involved in day to day running, and can take a step back, hopefully allowing them to focus more on their role as a regulator, as well as focussing on wider issues affecting charities, both current and future.

Whether this aim will be achieved however, especially given the cuts many public sector organisations have been subjected to in recent years, is still to be seen.

Charities who wish to obtain further information on taking part in the review project should contact the ICAEW at, and ICAEW members wishing to take part as reviewers should contact the institute at .

 

 

Date: 20th September, 2011
Author: Wendy Bambrick

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