When you have decided upon your legal structure and adopted your governing document you will also need to set up a bank account with a minimum of two named people responsible for signing any cheques. These two people must not be related.
You also need to ensure you have a clear and robust financial system. Click here to access advice from our Community Accountancy Service.
Risk Management and Insurance
It is up to your management committee, board, or trustees to identify and manage risks for your organisation, as well as understand their own legal obligations because there are certain types of activity where insurance is required by law. Your trustees, for example are responsible for approving your organisation’s approach to risk management and deciding what risks to insure against and when. It is their responsibility to make sure that your organisation has the appropriate insurance cover for any work or activity carried out.
Finding the right type of insurance will depend on the size of your organisation, type of work, where the work is carried out, number of staff or volunteers, etc. Common types of insurance include public liability insurance, buildings insurance, contents insurance, event and appeals insurance and professional liability insurance.
Policies and Procedures
We can help you to establish policies and procedures that are appropriate and necessary for the smooth running of your organisation.
For more information please contact the development team at Email: email@example.com or Tel: 0161 339 2345.