Charities

COVID-19 control measures and financial reporting by charities

The SORP-making body has published guidance for trustees and preparers of charity accounts looking at the potential impact of the control measures to contain COVID-19 on financial reporting by charities. The guidance considers the implications for the trustees’ annual report, going concern and the alternative basis to going concern when preparing accounts under the SORP:

Implications of COVID-19 control measures and charity financial reporting: PDF | Microsoft Word

Trustees may also find the FRC’s guidance to company Directors helpful when looking at their assessment of going concern: https://www.frc.org.uk/news/april-2016/guidance-on-the-going-concern-basis-of-accounting

Charity Accounts and Independent Examination

We prepare Charity Accounts and act as Independent Charity Examiners.

The trustees will usually be able to choose an independent examination instead of an audit if the charity's gross income is:

• more than £25,000, but not more than £1 million , provided that
• if its gross income is more than £250,000, its gross assets (fixed assets plus current assets) are £3.26 million or less
  

Since 2015 charities with an income over £250,000 must use an examiner from a body listed in Appendix 5 of CC32, The Chartered Institute of Management Accountants (CIMA) is listed.

We hold a full practising certificate from CIMA.

We are also Affiliate members of the ACIE (Association of Charity Independent Examiners) and members of the ACAT (Association of Church Accountants and Treasurers).

Our Clients include a Sports Charity accredited to British Gymnastics, an Animal Charity and we have also acted for a Veterans Charity which developed and operates 44 flats, community hub and training facilities.