As charity funding continues to fall, financial resilience has become an important consideration for all charities. Last September the CCEW identified a total of 94 charities with income over £1m, totalling £462m, whose auditors highlighted that they were in possible financial difficulties. As part of their response to this, the CCEW monitoring team identified 10 charities that were showing signs of financial distress and carried out proactive analysis of and compliance visits to these charities in order to seek assurances that trustees understood their duties and to identify common risk factors and good practice.
Guidance is available here.
This article features in our Charity Newsletter Spring 2017. To see the full version please click here.
If you would like to find out more about any of the topics covered in our Charity Newsletter and how we at Robinson Reed Layton can assist, please contact our Charities Partner, Mark Williams, on 01872 276116 or mark.williams@rrlcornwall.co.uk. You can signup to receive our Charity Newsletter here.
This publication has been prepared by Robinson Reed Layton. It is to be treated as a general guide only and is not intended to be a comprehensive statement of the law or represent specific advice. No liability is accepted for the opinions it contains, or for any errors or omissions. All rights reserved.
Updated 24 April 2017