The new Code of Governance for Charities sets standards for small and large charities. It follows a year-long review by a steering group of charity sector umbrella bodies. The code is voluntary but the Charity Commission has withdrawn its own code and will urge charities in England and Wales to use this new one instead. Some of the recommendations include boards ensuring that trustees are recruited openly and fairly, receive induction and training and that charities identify and manage risk. Smaller charities with an annual income of less than £1 million will be expected to follow a simpler version.
The new Code can be accessed here