As charity experts, BWMacfarlane have once again inputted into a Institute of Chartered Accountants in England and Wales (ICAEW) Special Interest Groups report for the Charity Commission, reviewing charities’ approaches to strategy as part of a special report on this topic.
The ICAEW has now published a report of a review project (The full report is available on the ICAEW website) examining charities’ approach to strategy. The review involved 25 volunteer charities, with one review being undertaken by Peter Taaffe, Managing Partner at BWMacfarlane.
The report summarises the findings of the review, including that charities with strategies appear more able to deal with fluctuating economic conditions but few charities considered mergers as part of them. The report also points to governance weaknesses present in many charities, often linked to poor understanding among trustees of their role and responsibilities and a lack of financial skills within charity boards. The full report is available on the ICAEW website.
The Commission will review the findings carefully and will consider how best they as regulator, together with our partners in the sector, can respond to the recommendations
For further information on strategy for charities please contact Managing Partner, Peter Taaffe
