Revised financial guidance for charities
On 8 June 2010, the Charity Commission published four updated sets of financial guidance for charities. They are:
- Charities and Risk Management (CC26)
- Financial Difficulties and Insolvency (CC12)
- Charities and Reserves (CC19)
- Internal Financial Controls (CC8)
The guidance has been updated to reflect new developments and the rather challenging economic climate that charities are now facing.
The updates include:
- New risk grid (CC26).
- Guidance on controls over Internet banking and safeguards against fraud and financial crime (CC8).
- Checklist of key questions for trustees to establish their charity’s financial position (CC12).
- Setting reserves in the context of financial and risk management (CC19).
The four documents can be downloaded from www.charitycommission.gov.uk.
Wendy Bambrick is a charities expert and a senior manager at Mercer & Hole. The views given in this blog are personal to the author, if you would like to discuss the contents of this post with Wendy you can call her on 01727 869141.
Date: 7th July, 2010
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