The Brexit decision has been hotly debated, with everyone evaluating how this will affect them. The charity and not-for-profit sector are amongst those who have spoken out over the past few days. In particular, they all want to ensure that their levels of funding can be protected to ensure their beneficiaries are supported, and that children and other vulnerable people continue to feel safe and secure.
The not-for-profit sector will be faced by many uncertainties in the coming months in relation to both EU and government funding, changes to investment portfolios and possible decreases in donations from the public, which could all be impacted by the decision taken in the EU referendum.
However, what is certain is that until there is more clarity, there is an even greater need for charities to re-evaluate their current operating risks. Strong risk management will allow charities to fully assess any new principal uncertainties that they are now facing, whilst also making sure that current risks are also fully documented. Early preparation is key to ensuring that your charity is ready to face the future and maintain its ability to help its beneficiaries.
At Moore Stephens we specialise in helping charities and not for profit organisations navigate risk management and build a solid grounding for themselves, whatever they face. If you would like to discuss any potential issues, or want advice on how to approach strong risk management, please get in touch with us: