What is the Triple Lock?
To actively demonstrate openness, transparency and integrity to your beneficiaries and donors your charity should be operating to the Triple Lock Standards - transparent reporting, good fundraising and governance
Your board has formally adopted the Guidelines for Charitable Organisations on Fundraising from the Public. Your staff, volunteers and anyone else fundraising on your behalf are fully trained on the requirements and you have implemented controls to ensure that all your fundraising practices are fully in line with the "Guidelines" and any related Codes of Practice. You review and report annually on compliance.
Annual and Financial Reporting
Your charity prepares a trustees annual report and financial statements in full compliance with the Charity SORP (Standard of Reporting Practice under FRS102) and makes them easily available to the public on your website.
Read our blog "What is the Charity SORP" for more information on what you should be looking for when reviewing a charities financial accounts in regards to transparent reporting.
Your board has formally adopted and is publicly signed up to the Governance Code for the Community and Voluntary Sector (or another Governance Code). Your charity has adopted the recommended practices under each of the five principles of good governance as appropriate to the size and scale of your organisation and you have a plan in place for ongoing review and self-evaluation.