Charity Investment sarah atkinson - Cazenove Capital · Sarah Atkinson Director of Policy &...
Transcript of Charity Investment sarah atkinson - Cazenove Capital · Sarah Atkinson Director of Policy &...
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Sarah Atkinson, Director of Policy and CommunicationsCharity Commission
Plenary
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Sarah AtkinsonDirector of Policy & Communications, The Charity Commission
Supporting good governance and financial control
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Public Trust and Confidence
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Trustees and governance
• Roles and responsibilities
• Poor governance financial control at the root of mismanagement
• Commission plays an important role in improving governance by leading, supporting and guiding trustees
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A Transforming Commission: statement of regulatory approach
• Our statement has been revised to enhance our enablement offer
• Enablement will include further support to trustees
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Governance
Conflicts of interest
Private benefit
Decision-making
Fundraising
Registration compliance
Financial distress
Themes from compliance work
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From firefighting to preventing fires
gathering relevant and up-to-date information(e.g. at registration, in annual return, through online portal)
putting that data to work: analysis of trends, patterns risks –what makes charities vulnerable?
tailored timely guidance helping trustees address their charities’ specific risks & vulnerabilities Proactive case
work
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Risk-based regulation is good for charities
• Quicker, simpler transactions in low risk cases e.g. changes to your governing document
• Better, more user-friendly general services e.g. self-service charity portal
• Advice and guidance that feels relevant, timely, ‘actionable’
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Examples of proactive risk-based projects
• Review of charities whose accounts suggested financial difficulties = recent cases demonstrated this as a risk area
• Charity sector counter-fraud group
• Timely, targeted alerts – e.g. recently on data protection, cash couriers
• Working with professional advisers to identify risk areas
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The Essential TrusteeDo you know your duties?
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Guidance – Top 5
• The essential trustee: what you need to know, what you need to do (CC3)
• Charity finances: trustee essentials (CC25)
• Charity reporting and accounting: the essentials (CC15d)
• Public benefit (PB1,PB2,PB3)
• It’s your decision: charity trustees and decision making (CC27)
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A digital Commission – Charity Services Portal
• One stop shop
• Charity has ownership
• Track progress of application
• Tailored guidance
• Alerts and notifications
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Trustee awareness – ‘Taken on Trust’ report
• 19,064 trustees surveyed 4,000 trustees responded
• Trustees steward over £75 billion of charity income each year – ensuring the 167,000 charities deliver their mission – contribution to charities amounts to around £3.5 billion a year
• Trustees report lacking some skills at board level; legal, financial, digital, and marketing – how can the sector support?
• Culture – challenge thinking!
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On the horizon
• AR18
• Brexit
• GDPR
• Fake news
• “We’ve had enough of experts”
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www.gov.uk/charity-commission
@ChtyCommission
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Thank you