Charity Corporate Health Check
We are closing off Ireland’s “Trustees Week” with a Corporate Health Check specifically prepared for Charities.
These questions can be used as an indicative test of Corporate Governance for your Charity. You may not know all the answers or any of them, but do ask questions. Check with your Company Secretary, Statutory Auditors or Accountant who will be happy to help.
1. Charities Regulator’s Register of Charities – is your charity registered with the Regulator.
2. Registered Office – is your charity’s registered office is correctly noted in the Companies Registration Office.
3. Charity Trustee/Director – are you recorded as a Director / Trustee with the Companies Registration Office and the Charity Regulatory Authority.
4. Books and Records – are your Charity’s Statutory Registers, Board, board sub-committee and general meeting records held at the registered office.
5. Accounting Records – is the Charity using a “competent and reliable person” such as an independent accountant to maintain accounting records? The charity should be able to measure its financial position with reasonable accuracy at any time.
6. Board Meetings – is the Charity maintaining Board minutes? Minutes must contain names of those present, in attendance, meeting proceedings and note any resolutions passed. The Minutes must also be signed by the Chair.
7. Annual General Meetings – members must be issued with a notice of a general meeting and provided with a copy of the financial statements prior to an AGM.
8. Companies Registration Office Annual Return – are they being filed on time? If your Charity is a limited company, it will have an Annual Return Date and is obliged to submit an Annual Return within 28 days of this date to the Companies Registration Office.
9. Charity Regulatory Annual Report– all charities (regardless of size) must submit an Annual Report to the Charities Regulatory, within 10 months after the end of each financial year and depending on the size, should also include the financial accounts.
10. Financial Benefits of being a Charity Trustee – as a Charity Trustee, by law you may not profit from carrying out your duty as a trustee. You cannot accept a salary specifically for acting as a charity trustee nor receive another benefit (with the exception of being reimbursed for reasonable expenses carrying out your duties).