Charity Reporting Improvements
The Charity Commission recently issued a report on the accounts monitoring for Charities. The report showed that there has been another slight improvement in quality of reporting in charities with income over £25K (90% accurate) however charities with income less than this are not making the necessary improvements (62% accurate).
Some of these errors in reporting can be put down to allocation issues when completing forms, while others show a lack of understanding. We would recommend that you take appropriate advice when completing your accounts, as wrong information published about your charity could be potentially damaging when people consider who they are going to support and when making gift aid payments.
Transparency is still high on the Charity Commission radar, so we would also advise all charities to ensure this is high on your priority list as it is imperative that the public can understand exactly what a charity does and how their donations are being used to the publics’ benefit.
You can view the full report here.
For further information on charity accounts, please contact Michaela Johns on 023 8046 1256.