Is your approach to risk management fit for purpose?
11 Key Steps for Trustees, 1 Giant Leap for your Charity: Month 8
For month 8 of our governance guide for Trustees, we are taking a look at risk, how to manage it effectively as well as considering the effectiveness of your charity’s risk management framework.
Step 8: Risk Management
Not managing risk effectively can have dramatic consequences for an organisation. The tragedy at Grenfell Towers in June 2017 demonstrates the severity of not embedding a robust process which can react to the concerns of beneficiaries. In the wake of that disaster, all not for profit organisations should be thinking carefully about whether their processes are fit for purpose.
Did you know: The Charity Commission’s main guidance is document CC26 “Charities and risk management”
It is a legal requirement for charities over the audit threshold to discuss risk management in their annual accounts and it is encouraged for smaller charities too. This article helps trustees to think about their approach to risk.
Every month we have been posting on a different area of governance for Trustees. You can read any of the previous months’ topics below and look out for our next blog on Expenses in September:
- Finding New Trustees
- Internal Financial Controls
- Collaborative Working and Mergers
- Trustee meetings and Decision Making
- Trading and Tax
- Campaigning, Lobbying and Political Activity