Does your charity need an audit?
The audit thresholds for charities differ to those for limited companies.
An audit is required if gross income exceeds £1m OR if gross income exceeds £250,000 and gross assets exceed £3.26m. Certain types of charities such as Registered Social Landlords (RSLs) and NHS charities may be required by law to have an audit. It is also worth checking if your governing document states that an ‘audit’ must be carried out.
Charities often face complex regulatory and accounting requirements. This can include compliance with charity SORP, Companies Act and trading rules as well as Gift Aid and VAT complexities.
If your charity is in the arts sector there are also Creative Industry Tax Reliefs to consider.
Simplify the complexities around your audit.
Our experience in preparing and auditing charity accounts means we understand that a holistic approach needs to be taken to navigate these complexities and your audit team will help you understand these in the simplest way possible.
Our charity auditors work with charities throughout the year and are on hand to offer advice and guidance as required. Our audit approach also allows us to identify any deficiencies in systems and controls and suggest improvements to enable your charity to become more efficient and function more effectively – providing assurance to Trustees and support for the internal finance function and management team.
As a charity you may also have specific reporting requirements for grants. We can also ensure this is integrated smoothly into the wider audit process.
Get an audit for your charity...
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