Advice for charities that are facing financial difficulties and how charities can reduce the risk of insolvency.
Guidance on how trustees can reduce the risk of insolvency. Sets out the responsibilities of trustees and what insolvency means to the charity.
The guidance explains:
- the charity trustees’ duties in relation to the protection of their charity’s assets
- why the charity trustees need to have a good knowledge of their charity and its finances
- what the charity trustees need to know about the charity’s assets and if their use is restricted
- that a charity may face insolvency if it’s unable to pay its debts
- when the trustees may be liable for any debts