SUNDERLAND BID is celebrating after gaining national recognition for its practices.
The BID has received British BIDs Accreditation, an industry recognised standard which confirms that the organisation has all the correct governance – along with financial and management processes – in place.
Achieving this status puts Sunderland BID ahead of the game in complying with a Government report issued earlier this year, which required that all BIDs are “accountable and transparent.”
The new accreditation comes at the end of a robust assessment process carried out by external auditors, which used the national guiding principles laid out for BIDs nationwide.
Ahead of awarding the accreditation, the assessors examine everything from the way the BID Board members are selected and the way the Board is run to how the organisation performs and engages with levy payers.
Its communication and reporting processes are also assessed, as well as its management structure and operations.
Operations Manager, Kirsty Currie, has been involved with every stage of the process and said receiving the award provides assurance
“to the Board, the team, levy payers and partners that the BID is well run, and that the right governance, financial and management processes are in place.”
“The accountability and transparency of a BID is critical, and adherence to the accreditation standards provides stakeholders with a reassurance about the way the BID is operating,” said Kirsty.
Working towards the new status was part of a commitment made by the BID when it started its third term of office in April.
Sharon Appleby, Chief Executive of Sunderland BID, said it was a great achievement.
“This is confirmation – and in line with Government requirements – that Sunderland is a well run and well managed BID which has really robust governance procedures,” said Sharon.
“It’s testimony to the hard work of all the team that our high standards and the quality of work produced by the BID is now acknowledged in this way.”
To find out more about Sunderland BID, please visit sunderlandbid.co.uk
