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.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
