Risk in Charities and NFPs

RSM Hayes Audit have published an article by RSM Chairman, Audit Partner, Craig Fisher entitled Risk in Charities and NFPs

It commences: “Risk in any organisation is a big issue, albeit one that gets vastly differing levels of attention in New Zealand charities and Not-For-Profit entities (NFPs). From a fundraising perspective risk is often just viewed as the potential for loss of funding streams, however it is much more than that.

We also have new legislation taking effect in New Zealand. The majority of the first phase of regulations to support the new Health and Safety at Work Act 2015 have been finalised and will come into force on Monday 4 April 2016, along with the Act. Accordingly, we thought it worthwhile to take a look at the topic of risk in a broad sense.”

There are sections headed:

What is risk?

Who is responsible for risk?

Approaches to Risk Management

What will be the likely impact of the new Health & Safety legislation?

The article concludes: “It is likely most organisations will have to review their health & safety situation and what systems, processes and education they have in place.  This applies to all organisations in New Zealand. “

The author concludes by suggesting : “The time to act is now!”


Click here to read the full article

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