February 23 2021
In a changing world, with more scrutiny from regulatory bodies on charities like never before, a robust governance and compliance infrastructure is increasingly the backbone for any charity, especially those like AAC.
AAC has always prided itself on its investment in and dedication to compliance. In more recent times we have worked with leading UK legal and top 5 accounting firms, specialising in charity law and compliance, reviewing and updating all our compliance procedures to meet a ‘gold standard’.
As a result, we developed up to date and relevant policies, built sophisticated systems and controls and enhanced our compliance team – both in the UK and in Israel. As trustees, we ensure that our compliance remains of the highest standard in order to discharge our duty of care, especially as we are one of the largest charities of its type in the UK, with a turnover of more than £37 million.
We now have over 2,000 charities that received donations from us last year in the UK, Israel and around the world. Each charity has been assessed by the AAC team, with many being visited by our dedicated compliance team. The recipient charities have to be regularly re-checked, to ensure continued compliance. We take this opportunity to thank you for your continued support as we carry out our on-going checks.
Each of the 250,000+ donations that are made per year are reviewed. This is done through an automated system and anything it picks up that warrants further checking is immediately passed to a compliance officer for investigation.
The enhanced governance services that we offer as standard, attracts an increasing number of family trusts/foundations and estates who come to AAC due to the complexities, onerous responsibility and costs involved in running these themselves.
We see this as an investment which adds real value to all our clients giving you peace of mind that your donated funds are being distributed to charities who themselves have a high level of governance.
Our responsibility is to ensure, that your Tzedokoh / charity donations to an AAC account and the distribution to the charities, are fully compliant with all UK charity law and HMRC guidance to the highest level, thereby safeguarding your donations.
This article was featured in the Purim 2021 newsletter. Click here to download the full newsletter.