Trustees must be more aware of the risks facing their organisations, according to a new report by the Charity Finance Directors' Group (CFDG).
The survey, entitled Balancing Risks and Rewards, shows that less than half of charity trustees are involved in monitoring risk management, and are often not responsible for the risk statement that bears their signature as part of an annual review.
Shirley Scott, director of the CFDG, said the survey highlighted that there was still much work to be done. "Although the report shows that charities are beginning to understand the importance of risk management, there is a slightly alarming lack of reporting back to trustees by senior management,
"We would have liked to have seen a greater level of responsibility on behalf of the trustees who are ultimately responsible for ensuring that their organisation is protecting its reputation and resources against dangers.