Finance and Reserves Policy
The policy applies to all employees and representatives acting on behalf of the society and its subsidiaries.
Purpose and Context
The purpose of this document is to set out the financial policy and controls applied across the British Psychological Society (BPS) and its subsidiaries, to ensure:
- The safeguarding of the charity's assets and proper application of its resources
- Financial roles, responsibilities and authority are clearly defined
- The risk of loss, waste, bribery, theft, fraud, financial abuse, and other irregularities are identified and mitigated
- Sufficient accounting records exist to explain all transactions
- Financial reporting is robust and of sufficient quality
- The trustees comply with charity law and regulation relating to finance
Scope
The policy applies to all employees and representatives acting on behalf of the society and its subsidiaries.
A separate purchasing and procurement policy outlines the BPS's policy with regards to expenditure.
All employees and representatives should read this policy in conjunction with:
- Purchasing and Procurement Policy
- Schedule of financial definitions
- All financial procedures