“Manage your charity’s resources responsibly – You must act responsibly, reasonably and honestly. This is sometimes called the duty of prudence. Prudence is about exercising sound judgement.”
(CC3: The essential trustee: what you need to know, what you need to do)
Trustees and governors should put appropriate procedures in place to ensure assets are only used for charitable purposes, avoid exposing the organisation to undue risk and safeguard the assets regarding investment, borrowing and disposal. Strong financial governance underpins strategic success but often the strength of a charity’s financial governance is only challenged when there is a crisis.
- Reviewing financial models of charities and schools
- Financial due diligence
- Financial training for non-financial trustees and governors
- Technical interviewer when recruiting finance directors and bursars
- Efficiency and effectiveness reviews of Bursary and Finance Departments
- Developing financial dashboards for Board and Finance Committees
- Fraud and internal control reviews
Do get in touch if you would like to learn how I can help you to improve your financial management.