Charity Finance Group and accountancy firm Sayer Vincent have launched a free guide for charities dealing with risk, which says charities don't consider risks faced by their organisation.
The guide, Rethinking Risk – Beyond the Tick Box, tells charities that risk management should be integrated with other management processes such as planning rather than treating it as a stand-along exercise.
It also tells charities that it is important to think about how you will report to the board on how risks are being managed, rather than producing long lists of risks.
In the guide’s foreword, Ian Theodoreson, chair of the CFG, wrote that “many charities don’t properly consider the risks their organisations are facing”.
He said: “It’s vital that charities rethink their approach to risk. Doing so can help you to shore up your reputation, take risks in order to grasp opportunities, and be alert and responsive to wider strategic risks.
“Everything that we do as charities involves risk. All of us, trustees and staff, have a duty to meet the challenge of those risks and do our best to manage them, in the interests of our beneficiaries. We hope that this guide provides a useful starting point, and subsequent steps to follow, to enable you to rethink your approach to risk.”
Jonathan Orchard, partner at Sayer Vincent, said: “The ideas presented in this publication use existing management tools, actions and reports to help the board to see how and where risk is already being managed. Integrating risk management into everyday organisational life makes sense – it’s what we are already doing.”
The 64-page publication is available here.
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