MPs SLATE KIDS COMPANY OVER NEGLIGENT FINANCIAL MANAGEMENT AND GOVERNANCE

摘要

A government report into the collapse at Kids Company has revealed an 'extraordinary catalogue of failures of governance and control at every level' while the 'negligent financial management' on the part of its trustees was also singled out. The Public Administration and Constitutional Affairs Committee (PACAC) report states that over its 19 years, trustees 'repeatedly ignored auditors' clear warnings about precarious finances'. 'This negligent financial management rendered the charity incapable of surviving any variance in its funding stream; when allegations of sexual misconduct emerged in July 2015 and threatened to impede fundraising, the charity was obliged to close immediately,' the report states.