The Charity Commission has updated much of it financial guidance for charities.

This includes updates to:

• Charities and Risk Management (CC26)
• Financial Difficulties and Insolvency (CC12)
• Charities and reserves (CC19)
• Internal Financial Controls (CC8)

The new guidance has been issued to help charities cope with the current economic conditions. It follows research showing that charities expect to be hit later than other sectors by the recession, but take longer to recover.

Updates include a new risk grid (Charities and Risk Management); guidance on controls over internet banking and safeguards against fraud and financial crime (Internal Financial Controls); a checklist of key questions for trustees to establish their charity’s financial position (Financial Difficulties and Insolvency) and guidance on setting reserves in the context of financial and risk management (Charities and Reserves).

Asset

The Community Accountancy (Asset) Project at VAL can assist voluntary and community groups in Lewisham with advice and training on handling finances.
For further details please contact: Christine Wykes Driver on: 020 8314 6576 or e-mail christine@valewisham.org.uk.

There are similar projects in Bexley, Greenwich and Southwark.