Charity Commission updates financial controls guidance
The Charity Commission is calling on charities to check their internal financial controls with the help of its redesigned guidance.
The updated guidance (known as ‘CC8’) explains the role strong internal financial controls play in ensuring trustees can safeguard their charity’s resources. The restructured guidance is now more concise, clearer and covers issues that were not in existence or widely relevant to the sector when first drafted.
The guidance also includes an updated checklist to help the charity sector–which generates an income of £80 billion a year in England and Wales–put it into practice.