Regulators

Regulator launches investigation into The Knightland Foundation

The Charity Commission opened a statutory inquiry and appointed two interim managers to a London-based grant-making charity

The Charity Commisions has launched an investigation into The Knightland Foundation over concerns regarding the organisation’s finances and governance.

In response to said concerns, the regulator has opened a statutory inquiry and appointed two interim managers to a London-based grant-making charity.

John Dickinson and Joseph Colley of Carter Backer Winter LLP have been appointed as the inquiry’s interim managers.

Since 2016, the Charity Commission has dealt with the foundation after a proactive review of its accounts revealed a number of issues, including insufficiently documented loan agreements and transactions to connected companies.

Following this, the regulator issued the charity’s trustees with an action plan to address these concerns.

In light of the financial issues being unresolved, the Charity Commission brought forward a statutory inquiry on 24 February 2021 as a means of intervention, which allows the regulator access to the full range of its legal and enforcement powers.

In a statement, the regulator said: “The inquiry will examine whether potential conflicts of interest and connected party transactions have been properly managed and whether there has been any unauthorised trustee benefit.

“It will also look at wider concerns around the charity’s financial and resource management and the trustees’ compliance with their legal obligations.”

Back to top button