Charities

Insight / Guidance updated as serious incidents in charities go unreported

The Charity Commission has issued clearer guidance on reporting serious incidents as charities are currently failing to report many instances as soon as they occur, with the regulator warning this can put charities at risk of further harm

Insight / Treasury urges individuals to donate round pounds to Children in Need

BBC Children in Need has partnered with the Treasury and The Royal Mint on a campaign to encourage people to donate the millions of remaining round £1 coins to the charity, with only four weeks to go until the old pound coin goes out of circulation

Accounting / FRC proposes amendments to FRS 102 for Gift Aid payments

The Financial Reporting Council (FRC) is set to amend the rules for handling Gift Aid payments under FRS 102 in an effort to clarify when profits from a non-charitable subsidiary can be distributed to the parent charity

Insight / Investigation into charity over unauthorised payments

The Charity Commission has opened a statutory inquiry into Fadak Media Broadcasts, over concerns about possible unauthorised payments

Audit / Charity Commission warning on auditor concerns

Nearly 100 charities, with a collective total income of some £195m, filed accounts last year that included a formally modified audit opinion, suggesting they could be material misstated, according to analysis by the Charity Commission which warns trustees and auditors need to address the concerns more proactively

Insight / Charity Commission inquiry into London Christian charity

The Charity Commission has opened a statutory inquiry into the London-based charity Kingdom Life Ministries, over concerns about its failure to provide accounting information on time

Audit / Lack of transparency over government use of £973m Libor Fund

The National Audit Office (NAO) has slated the government’s handling of the £973m Libor Fund, which makes charity donations from fines paid by banks for manipulating key benchmarks, saying it is unclear whether the money has been used as intended and whether a commitment to fund additional apprenticeships has been met

Insight / Charity Commission updates guidance for independent examiners

The Charity Commission has published updated guidance for independent examiners explaining their role and duties in examining the accounts of a charity and the matters which must be included in their report to the charity trustees

Insight / Charity Commission proposes new annual return process

The Charity Commission is consulting on planned changes to next year’s annual return, including a new dynamic online updating facility, which it says are the most significant since 2013, and will address a number of issues identified in its recent reports

Insight / Development updates: September 2017

In the latest career development updates, HMRC hires granger replacement, employment tribunal fess overturned, Kids Company charity directors set to be disqualified, bonus payment complaint must be in public interest

Insight / Charity Commission online services restored after server issues

The Charity Commission his restored its services after server problems caused its site to crash on Friday, 25 August 2017

Accounting / Charity annual return service 2017 released

The Charity Commission has released the 2017 annual return service for charities to submit income and expenditure figures for 2017, which is due within 10 months of the end of financial reporting period for charities with income of more than £10,000

Insight / Public procurement process locking out smaller firms, says FSB

Small businesses are failing to grow their share of public sector contracts with the latest figures from the Federation of Small Businesses (FSB), showing a fall in SME marketshare to 23%, far short of the government's target to ensure SMEs win a third of these contracts

Audit / Crowe Clark Whitehill remains top of charity audit league table

The UK’s largest charities paid out £69.4m in audit fees last year, with Crowe Clark Whitehill winning the biggest share for the ninth year running, according to the 2017 Charity Financial league table

Insight / Garden Bridge project abandoned after lack of support from Mayor

The Garden Bridge Trust has announced that it will be winding up its project to build a pedestrian bridge between South Bank and Temple due to a ‘lack of support for the project going forward from the Mayor’
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