An event like a hacker attack or the loss of a major donor could be catastrophic for your charity. So what are you doing to reduce the risk of such an event? This question is at the core of risk management, and it’s one that charities of all sizes should be asking themselves on a regular basis.
For larger charities, it is in fact an obligation: non-company charities with incomes of £500,000 or more (and charities with incomes above £250,000 plus assets worth more than £3.26 million) must include a risk management statement in their trustees’ annual report, according to government guidance.
Here, Paul Rubens offer five simple steps to help charities carry out an adequate risk assessment.