The Volunteering Community will cease to exist from 1 January 2023, but its content will not. In fact, we are committed to make more resources available for charity trustees and other volunteers, free of charge.
The Charity Community
Insurance for voluntary activities
The management liability insurance currently provided by the Volunteering Community will remain in place until 31 December 2022. After that it will no longer be available. If you provide voluntary (unpaid) accountancy services to charities, we encourage you to obtain appropriate insurance. You can 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 seeking run-off cover from the management liability insurance provided by the Volunteering Community, 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.
Without the subscription fee to the Volunteering Community, we cannot offer the insurance product free of charge. However, we are pleased to be able to offer a low-cost product that volunteers can purchase to meet their specific needs.
Where will I be able to find resources for volunteers?
From 1 January 2023, existing and new resources from the Volunteering Community and the Charity 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
- Sustainability
- 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 volunteers, please don’t hesitate to contact me directly (kristina.kopic@icaew.com).