UK Sport announced earlier this year that it would be investing approximately £24 million into several Olympic sports ahead of the Beijing 2022 Winter Games.
The sports organisations being funded will be expected to be fully compliant with the Code for Sports Governance (“the Code”) by October 2018. So what exactly is the Code and what are some of the hurdles that organisations need to be aware of?
The Code sets out new levels of accountability and transparency which sports organisations who request funding from UK Sport and Sport England must now adhere to. The requirements of the Code are split into three proportionate tiers; the higher the funding an organisation is requesting or is in receipt of, the higher the number of requirements they must comply with.
It is clear that the Code continues to improve practice through offering a base upon which organisations can develop good governance. However, many organisations have been surprised by the amount of time it takes to become compliant. Newly compliant organisations have recognised that, especially initially, a lot of time and resources need to be allocated to working towards becoming compliant and dealing with the ‘red tape’ this involves. In particular, it takes time and extensive consideration to create a solution which sufficiently incorporates the Code’s requirements, but still reflects the spirit and working operations of the organisation in question.
Hewitsons LLP has successfully advised and steered many organisations through the steps required to reach compliance. If you have any questions and are seeking advice for your organisation regarding the Code please then please get in touch with Ben Moorhead on 020 7400 6578, or click here
to email Ben. Alternatively you can contact Kasia Reda by email here