Lesson 7 of 10
Governance, reporting and accountability
Learning objectives
- Hold the basic governance a CIC actually requires
- Submit a CIC34 community interest report each year
- Build a minimum board / advisory layer
- Document decisions so the structure is defensible
Minimum governance
At least one director (more is healthier). Companies House filings (confirmation statement, accounts). CIC Regulator filings (CIC34 annual community interest report). A documented decision-making process for big calls. Records of director conflicts of interest.
Build an advisory layer early
Even with one statutory director, build a 2–4 person advisory group: someone from the community served, someone with sector experience, someone with finance / governance experience. Meet quarterly. Minute the meetings. This is what scales credibility.
Defensible documentation
Written policies on safeguarding, data, complaints, equality. A simple risk register reviewed quarterly. Minuted decisions on anything material (new contracts, salary changes, dissolution, asset transfers). 'It's just me' is not a defence the Regulator accepts.
Founder insight — Derrick Twum
The founders who get respected by councils and funders are the ones whose governance is visible — published policies, named advisors, an actual annual report. It's a competitive advantage in our sector.
Key takeaway
Minimum governance = filings + advisors + documented decisions + basic policies. Build it before you're forced to.
Reflection questions
- 1When is your next CIC34 due?
- 2Who would sit on your advisory group?
- 3Which policies are missing?
- 4How do you minute decisions today?
Action task
List the 3 people you'd invite to your advisory group, the 4 policies you need in writing, and your next filing dates.
Worksheet
Work through these prompts. Answers save to this device.
Answers are saved to this device only. Cloud sync coming soon.
Related MEM tools
- Business Planner