🌍✨ Charity Trustee Week
Charity - Trustee - Week -2023 - Snapshot - Knowledge Sharing - Lionheart -
Charity - Trustee - Week -2023 - Snapshot - Knowledge Sharing - Lionheart -
🌍✨ A Focus on Governance and Compliance ✨
Lionheart Snapshot Series
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🌟 Sharing some Lionheart Corporate Governance Insights during Charity Trustee Week 2023
As we step into Charity Trustees’ Week 2023, it offers moment for Irish Charity Trustees to reflect on their roles and responsibilities. This week, organised by the Charities Regulatory Authority, underscores the importance of understanding and fulfilling the legal duties of Trustees.
Charity trustees navigate a complex landscape of legal obligations, ranging from adhering to their organisation's governing documents to complying with the Charities Act, 2009, and other relevant legislation. For charities incorporated as companies limited by guarantee, additional responsibilities under the Companies Act, 2014, come into play.
Lionheart, with its deep domain knowledge and experience in serving Irish and international charities, is uniquely positioned to offer insights and assistance in this area. Our team, including partners who serve on the boards of a number of charities are well versed in the intricacies involved in charity governance issues.
Key Areas for Trustees to Focus On:
Preparation and Planning: Charities must maintain specific policies and procedures addressing data protection, fundraising, finances, volunteer management, and compliance inquiries. The Charities Regulatory Authority has developed a Compliance Record Form to document a charity's adherence to the Charities Governance Code. While not mandatory for submission, this form is important for evidencing compliance and should be updated annually.
Review and Update Policies: Publicly accessible safeguarding policies and procedures should be reviewed annually to ensure they remain effective and comply with evolving statutory requirements. These policies should detail the process for raising concerns and the subsequent procedures, including reporting to relevant authorities.
Notification and Response to Concerns: Trustees must act promptly when concerns arise within their charity. First addressing issues within the Board, and if unresolved, escalating to the Charities Regulatory Authority is important for maintaining compliance and trust.
Seeking Appropriate Advice: Trustees should seek professional advice in areas beyond their expertise to ensure effective charity management.
Implementing Good Governance Practices: Minute accuracy and clear documentation of key decisions are fundamental practices that trustees should adopt.
Managing Conflicts: Identifying and declaring conflicts of interest, and documenting them in the charity’s register of interests, is important for maintaining transparency and trust.
Conducting Risk Analysis: Establishing a risk management system and a risk register is a fundemental aspect of your governance framework for identifying and managing potential risks.
Disclosing Theft and Fraud: Trustees are obligated to report any reasonable suspicions of theft or fraud under the Criminal Justice (Theft and Fraud Offences) Act 2001 to the Charities Regulatory Authority.
Preparing for CRA Enforcement Initiatives: Understanding and preparing for potential CRA compliance and enforcement initiatives is good practice and should be part of the Boards annual governance workplan for maintaining the charity’s good standing.
Lionheart Corporate Governance stands ready to assist charity trustees in navigating these complex areas. Our expertise in charity corporate governance positions us to provide tailored advice, ensuring that your charity not only complies with regulatory requirements but thrives in fulfilling its mission. If you have any queries or require professional corporate governance guidance, please do not hesitate to contact us. Together, we can ensure that your charity is well-governed, transparent, and effective in making a positive impact in our communities.
Lionheart Snapshots are part of our ongoing knowledge sharing program.
If you require any further information in regard to Corporate Governance please feel free to contact us at admin@lionheart.ie