Are your non-financial risk management policies effective?
The Statement of Recommended Practice (SORP) requires trustees to make a statement confirming that “..the major risks to which the charity is exposed, are identified by the trustees, have been reviewed and systems have been established to manage those risks.”
Major risks are those that, if they occurred, would have a severe impact on operational performance, achievement of aims and objectives or would damage the reputation of the charity.
For most charities the management of financial risk is very much at the forefront of day-to-day activities, but does the same apply to non-financial risk management?
For example:
- Do you have a documented and tested Continuity Plan in place should you lose your premises either temporarily or permanently?
- Have you planned for the loss of telephones, email and the internet?
- Are your Contracts of Employment and Health & Safety policies up to date and being adhered to?
- Are you prepared if you lose the services of a key supplier?
If you haven’t adequately prepared it is unlikely you will be able to fulfil your aims and objectives, and undoubtedly you will cause damage to your reputation, which will hinder you in the future.
We link the risk review to your Business Plan, and produce for you a Risk Management Plan that fulfils your SORP requirements and ensures a return to “business as usual” quickly.
To discuss further please the “Contact Us” link, and we’ll quickly get back to you.
