The Charity Commission have issued new guidance and reminders about ensuring that your charity has suitable financial controls.
“Even though pre-signing blank cheques may be convenient, it is not acceptable to do so and in a recent case, the Tribunal confirmed it was mismanagement. Our message to trustees is clear; do not sign blank cheques.” says Michelle Russell, Head of Investigations and Enforcement at the Charity Commission.
They also highlight other guidance available from the Charity Commission:
Internal financial controls for charities (CC8)Find out how you can improve your charity’s financial activity and internal financial controls to reduce the risk of loss.
Chapter 3 Fraud and financial crimeHelps trustees and other charity managers to be aware of the risks, to recognise some of the most common types of fraudulent activity and to devise ways to prevent fraud occurring.