The Charity Finance Professionals Community and the Volunteering Community will join forces as a brand-new Charity Community.
From 1 January 2023, the new Charity Community will bring together tools, insights and resources for both volunteers and finance professionals. Members of the Charity Finance Professionals Community will automatically be transferred to the Charity Community, free of charge, so there’s nothing you need to do.
As a member of the Charity Community, you will continue to receive invites to free webinars, discounts for charity-related training, updates on charity sector developments and practical guidance for your paid and voluntary roles. Membership is free and open to everyone, including non-ICAEW members, so please spread the word in your own network if you think they will benefit from our offer.
This is part of ICAEW’s commitment to make more expert content available to support lifelong learning and to serve the public interest.
New insurance for voluntary activities
If you provide voluntary (unpaid) accountancy services to charities, we encourage you to obtain appropriate insurance. You can now purchase a professional liability insurance product, designed specifically for volunteers, at a competitive rate, from our trusted partners at Marsh Commercial. Click here for more information. This insurance product is available to both members and non-members.
If you are currently a member of the Volunteering Community and are seeking run-off cover from the management liability insurance provided by it, you will need to ensure that your new insurance covers your previous activities within its retroactive date. Please refer to Marsh Commercial when setting up your new insurance to make sure this is considered.
Reasons for the changes
All Communities will be free of charge to ICAEW members from 1 January 2023 to encourage you to make the most of your membership. ICAEW is determined to ensure that members receive as much value as possible from their membership, as well as having the opportunity to stay up to date with the latest developments and requirements for the professional or voluntary activities.
The removal of paywalls for all Communities and areas such as Audit, Tax and Financial Reporting will give all members access to the valuable and rich content produced by these groups.
From 1 January 2023, existing and new resources from the Volunteering Community and the Charity Finance Professionals Community can be found in the new Charity Community and will be structured into 10 topic areas:
- Accounting and Reporting
- Audit and Independent Examination
- Taxation and VAT
- Financial Management
- Regulation and Legislation
- Volunteering and Governance
- Fraud and Cybercrime
- Reserves and Investments
- Technology and Data
The new Community will also continue to highlight charity-related events and free access to webinar recordings. It will also provide free and easy access to ICAEW’s Trustee Training Modules and to ICAEW Volunteers, our ‘job site’ connecting you to volunteering opportunities. There will be no changes to these free resources. If you are interested in actively contributing to ICAEW’s activities, you can find out how best to get involved in our new ICAEW Volunteering Hub.
If you have any questions about the changes for charity finance professionals and volunteers, please don’t hesitate to contact me directly (firstname.lastname@example.org).