Trustee Charity Finance Competency
MHA in conjunction with Charity Finance Group have recently published the results of a survey of charity trustee competencies with a focus on finance. In the light of the increasing responsibilities and expectations of trustees, it makes for interesting reading.
The survey has reviewed answers to questions regarding a number of topics including how well the Board understands the strategic financial governance of the charity and the breadth of understanding. The results suggest that further improvement is required in trustee understanding of financial governance and that all board members, not just the treasurer should be engaged with the charity finances.
Given the need for increased understanding, it is surprising that there has been a reduction in the number of charities making charity finance training available to trustees. The assessment of board skills and performance forms part of the guidance in the Governance Code and there has been a small reduction in charities formally assessing board competencies in charity finance. If this was done robustly and identified training needs identified and satisfied it would help to improve the understanding of Trustees and the performance of charities.
If Trustees had a look at the Governance Code last year and have not reviewed it since, it would be useful to have a review of progress made and identify any further improvements.
Please click here to view the previous years Governance Code