Posted on 19 January 2018 by Tracey Bird

Did you know that all charity trustees are collectively responsible for the effective financial management of their organisation? No, it’s not just down to the treasurer… That’s why it’s essential, if you’re a trustee, that you have a handle on your charity’s finances, and are informed and confident enough to ask the right questions. To help you do this, SCVO have organised three new interactive seminars with Saffery Champness, who are partners in our Tax and VAT Service. The first, on 5^th March will cover Risk Management and Reserves and will show how risk management ties into good governance and the responsibilities of trustees. In an informative and practical session, we’ll also look at developing a policy on reserves and business continuity planning. Next on 23^rd April is a Tax and VAT seminar where Saffery Champness will take you through the key tax and VAT opportunities and risk areas they come across when advising charities. It’ll include an update on the latest HMRC approach as well as comments on recent case law and the potential affect that Brexit may have on the sector. Finally on 22^nd May the seminar on Charity Accounting and Financial Reporting will look at the different accounting obligations for charities in Scotland, and how to interpret charity accounts. There’ll be an overview of financial management and controls, annual budgeting, depreciation of assets, full cost recovery and the trustees’ annual report. Strong financial governance is vital in an effective charity, and whether you’re a new trustee, or one that’s been on any number of boards, you need to keep your knowledge up to date, and your financial confidence high.