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
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Related MEM tools
- Business Planner