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  4. Implementing appropriate up to date internal financial and management controls

Principle 3

Implementing appropriate up to date internal financial and management controls

Financial and Management Controls

Managing your organisation’s finances is vitally important and is a key role of the management committee of any organisation.  Overseeing other management control policies is also a role of the committee and will impact on how the organisation is run.

Financial controls underpin the effective management of any organisation.  Management controls encompass the other policies which the management committee puts in place to ensure that the organisation is effectively run.  Financial policies could include:

  • Reserves
  • Anti-bribery policy
  • Anti-fraud policy
  • Financial procedures
  • Procurement
  • Schedule of delegated financial authority

Please see links below for more details.

Finance

Financial Systems and Control Assessment Questionnaire

Prudence

Pensions

SORP and Financial reporting

NICVA has developed the series of tutorial videos below to help treasurers and trustees of small to medium sized voluntary led organisations understand the basics of financial record keeping and good financial governance:

NICVA also have information on:

A range of useful resources are available from The Charity Finance Group: