VCS’ Commitment to Compliance
VCS recognises that it is accountable to all its stakeholders, including its members, beneficiaries, regulatory authorities, donors and members of the public. For VCS to operate successfully, the Management Committee believes that there must be confidence and public trust in its work. It is therefore imperative to have a sound governance and management system that can withstand the scrutiny of its stakeholders.
The Management Committee is committed to setting and maintaining a high standard of governance in the spirit of the Code of Governance for Charities and Institutions of a Public Character (“Code”). VCS Board Governance was developed based on the Code and is reviewed annually.
To comply with the Code, the Board will maintain and regularly review VCS’ system of internal controls, performance, policies and procedures to ensure that:
(a) VCS regularly identifies and reviews key risks to which VCS is exposed to and has a system to manage these risks;
(b) VCS understands and complies with all applicable legal and regulatory requirements;
(c) VCS has appropriate up-to-date financial and management controls;
(d) Delegation to Board Committees, staff and volunteers works effectively and the use of delegated authority is properly supervised;
(e) Proper arrangements are in place for the recruitment, supervision, support, appraisal and remuneration of all staff including the Executive Director; and
(f) Volunteers are well managed and supported.
The adherence with the principles and guidelines of the Code has enabled VCS to be more effective, transparent and accountable to its stakeholders. VCS aims to help members of the public understand VCS’ standard of governance and to make an informed decision with regard to the support they give in terms of time and monies.
VCS has an annual self-evaluation system to assess the performance and effectiveness of the management committee. The outcomes of the evaluation, including recommendations for improvement if any, are shared with the management committee and key management personnel. The committee assessed its compliance with the Code of Governance for the evaluation period from 1 January 2020 to 31 December 2020.The Management Committee confirmed that VCS has abided by its governance practices in accordance with VCS Board Governance Manual and the Code throughout the financial year 2020.
VCS is in the Enhanced Tier based on the Code. In Financial Year 2020, VCS had complied with all requirements for the Enhanced Tier. The annual returns, including the Governance Evaluation Checklist were filed with the Commissioner of Charities after the Annual General Meeting and made available on VCS’ website.