Wednesday, 13 April 2016

Reporting obligations

Too many small charities are 'unaware of their reporting obligations', Commission research finds

Less than half of small charities are able to provide adequate annual reports and accounts on request, according to research by the charity regulator.

And many large charities are still filing accounts with "major flaws".
The research reveals that many small charities do not appear aware of their reporting obligations. One in five sent another report in place on their annual report and accounts, one in six small charities failed to send over any form of report at all, and “several small charities” only sent their annual report and accounts after the Commission provided further explanation of the requirements to them.

Nigel Davies, head of accountancy services and the Commission said “the quality of small charity accounts is not as good as we would like”.

“All charities must by law prepare an annual report and accounts and make them publicly available. Accurate, good quality accounts is the minimum that we expect,” he said. 

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