Governance and compliance is a fundamental part of an organisation’s approach to ensuring it is fit for purpose, is delivering its strategic objectives, and it is meeting the expectations of it stakeholders and members. In this regard, third sector and charity governance and compliance is no different from that of a listed public company.
Charity Trustees and members of public body boards face similar governance challenges to that of their public and private company director counterparts: all have to exercise astute financial oversight and judgement, they must adhere to the relevant rules and regulations that apply to them as Company directors or Board members, they must exercise good governance practices and adhere to governance codes, and they must respond to unexpected challenges that their organisations face.
Third sector and charity Governance Codes and Good Practice
Organisations from across sectors are bound together by the requirement to adhere to the standards set by various governance codes and best sector practice. The Charity Governance Code, published by a collection of third-sector organisations, sets the best practice standards for the way a charity’s board operates and exercises its duties. It is a comprehensive guide that sets guidelines and best practice examples, and is used by charities to report on their governance approach. It can be used to review a charity’s approach to governance and the effectiveness of its Board, and we are able to support in undertaking this through our Board Effectiveness Review offering.
Similarly, the Cabinet Office sets the principles for reviewing the governance approach taken by public bodies and arms lengths organisations. This approach is less about adopting a code of good governance for public bodies, and instead is focused on what an independent Board Effectiveness Review should cover. As experienced governance reviewers, we are able to use our best practice approach to reviewing governance in public bodies, which is in line with the Cabinet Office’s principles, to offer an independent view of the governance structure of your organisation.
Governance in charities and public sector organisations can be something that is not necessarily at the top of the Board’s or the management’s to-do list, and therefore it is often not given the attention and focus that is required. Trustee and Board meetings are only effective if Trustees and Members are provided with papers and documents that will allow them to make informed contributions. Compliance with statutory obligations is often complex and hard-to-follow, and not always the priority for a Trustee. MSP are able to support with the company secretarial and governance arrangements for your organisation, either on an interim ad-hoc basis, or as a fully outsourced service provider.
How MSP can help
In addition to a strong track record of delivering for public listed and private companies, MSP has a wealth of experience providing third sector and charity governance support.
We are able to provide flexible, ad-hoc project and interim governance and company secretarial support to charities and public sector organisations looking to fill a short-term resourcing requirement to deliver projects such as Annual General Meetings, a Board Effectiveness Review or a review of compliance with codes such as the Charity Governance Code.
Providing a fully out-sourced company secretarial and governance solution, MSP can be more efficient and cost effective than an in-house solution. We are able to provide meeting support for Board and Trustee meetings, undertake regulatory fillings with Companies House and the Charity Commission, maintain your statutory registers, and provide support with trading subsidiaries and incorporations.
For more information, contact MSP.