Almost half the 350 charities polled in a survey by mid-tier firm PKF and the Charity Finance Directors’ Group had followed formal risk management procedures during the last year, but only 9% had done so for more than two years.
Only 8% had yet to begin any formal risk assessment, while just 56% of charities report to trustees more than once a year.
Charles Cox, PKF head of charities, said: ‘The biggest challenge is going to be getting everyone involved in each organisation to change the way they think so that risk considerations become as intrinsic to decision-making as financial consequences.’
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.