Charity: NATIONAL SADAQA FOUNDATION (Charity No. 1206401)

Organisation type: Charitable Incorporated Organisation (CIO)

Version: v1.0

Status: Draft for Board approval

Date: 06 February 2026

Purpose

To protect NSF’s funds, prevent fraud, and ensure robust financial management.

1. Policy statement

• NSF has zero tolerance for fraud, bribery, and misuse of charitable funds.
• Trustees are responsible for ensuring effective financial controls.

2. Core controls

• Segregation of duties where possible; approval limits; dual authorisation for payments; documented procurement; clear record-keeping.

3. Banking and payments

• Bank accounts are held in NSF’s legal name.
• Two-authoriser rule for online banking where available.
• All payments require supporting documentation and approval.

4. Expenses

• Expenses are reimbursed only for legitimate charity activity, with receipts and prior approval rules.

5. Procurement

• Supplier selection is proportionate; conflicts of interest declared; quotes obtained for higher value purchases; decisions recorded.

6. Reporting and monitoring

• Regular management accounts; budget tracking; board review; independent examination as required.

7. Reporting suspected fraud

• Concerns reported immediately to the Chair; urgent action may include account freezes and notifying police/regulator as appropriate.

8. Review

• Reviewed annually.