CFDG and PKF warn charities on swine flu

Finance | Vibeka Mair | 29 Sep 2009

CFDG has said it is worrying how few charities have a contingency plan for a swine flu outbreak, after finding almost half had no plan in the 2009 Charities Risk Survey it has carried out with accountancy firm PKF.

“The UK is now facing a pandemic,” the survey warned, “The adequacy of the arrangements is likely to be tested imminently for a number of charities. It is hoped that they will work.”

Some 466 charities responded to the annual survey which found nearly half (46 per cent) expected their income to reduce significantly over the next year.

It also found that 70 per cent of respondents had already experienced a significant reduction in investment income, with 40 per cent experiencing a cut of more than 20 per cent.

Further 25 per cent of charities had noted a significant reduction in corporate donations and 20 per cent had experienced a significant reduction in subscriptions, public donations and legacies.

To manage this, around 31 per cent of charities said they would need to make staff reductions and 18 per cent said they would need to write off bad debts or investments.

On risk management, 58 per cent of charities had been fully effective in identifying risk, however the survey noted that the degree of success of risk management varied significantly between different types of risk issues.

The frequency of review of risks and controls has risen, with 57 per cent of managers and 34 per cent of trustees now reviewing them at least quarterly, compared with 34 per cent and 28 per cent two years ago.

Directory: Charity Finance Directors' Group (CFDG)
Who's Who: Vibeka Mair

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