Federation Trustee Online Training - Module 4

In an unincorporated federation, trustees have a greater level of personally liability as the federation is not a formal legal entity.

True

False

Internal financial controls are required for various reasons, including:

To protect the federation’s assets

To identify and manage the risk of conflicts of interest, loss, waste, bribery, theft or fraud

To ensure that financial reporting is robust and of sufficient quality

To ensure that the trustees comply with charity law and regulation relating to finance.

All of the above

The Treasurer holds full responsibility to understand the accounts and understand the federation’s financial position and other trustees don’t need to understand them.

True

False

The identification and responsibility for risk management sits with the Board of Trustees.

True

False

The process of tendering for contracts should be:

Transparent and show how you choose suppliers and partners who will best reflect the needs of your charity.

Based on a personal relationship between one the trustees and a private company

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