Charities

Insight / Charity Commission finds failings in accounts quality

Over half of charity accounts still fail to explain how the charity is meeting its objectives, while a quarter do not meet basic standards for users, rising to almost half in the very smallest charities, according to research from the Charity Commission

Tax / ICAEW runs through charity rules on London Marathon donations

Ahead of this year’s London Marathon on Sunday, which holds the Guinness World Record for the largest single annual fundraising event, ICAEW has issued advice reminding accountants and others of the options to claim tax relief on any charitable donations for those taking part

Insight / CABA reports 20% increase in calls for help

CABA, the charity supporting chartered accountants, helped over 15,000 people last year, a 20% increase on the previous twelve months, according to its 2016 impact report published in its 130th year of operation

Audit / Revised guidance for charity auditors on material significance

The three UK charity regulators have issued new joint guidance setting out what auditors and independent examiners must report, including a revised list of matters of material significance

Insight / Investigation into children’s charity’s trustee governance

The Charity Commission, has opened a statutory inquiry into children’s charity Believe in Magic, and has frozen its bank account, over concerns about possible trustee mismanagement and the failure to file annual accounts

Insight / Inquiry into fundraising at animal charity

The Charity Commission has opened a statutory inquiry into the Alternative Animal Sanctuary, over concerns about third-party fundraising arrangements agreed by the trustees and the adequacy of the charity’s financial controls

Insight / Regulator to investigate child poverty charity over debts

The Charity Commission is to investigate Child Survival Fund over concerns about the charity’s financial affairs, particularly in relation to significant debts owed to a direct mailing agency

Accounting / Charity Commission introduces accounts templates

The Charity Commission has launched an accounts templates pack for small charitable companies, designed in partnership with Companies House, to help trustees of charitable companies with an income of under £500,000 prepare their accounts

Insight / Charity censured for selling £21m property for £6m

The Charity Commission has found the trustees of the Spiritualist Association of Great Britain were responsible for serious mismanagement when they disposed of the charity’s London property for £6m in 2010, only for it to be sold on shortly afterwards for £21m

Insight / Charity trustee disqualified for immigration visa fraud

The Charity Commission has disqualified a trustee, barring him from becoming involved with charities again, after an inquiry found he had used the Khalsa Missionary Society as a conduit for immigration fraud

Insight / Ipswich charity had poor financial management

A Charity Commission inquiry into the Ipswich Kurdish Islamic Cultural Centre has concluded that there was misconduct and mismanagement in the charity’s administration, with multiple failings by the trustees including poor financial management

Insight / Cheques enter 21st century with one-day clearing

A new electronic image scanning system for cheques will reduce the current maximum of six working days to clear cheques down to one day using an industry-wide, image-based cheque clearing system

Tax / Rural broadband: how to improve access as Making Tax Digital looms

The postcode lottery for business-ready telecoms for rural enterprises remains a problem, only exacerbated by HMRC's rushed plans to roll out Making Tax Digital from 2018 onwards. Dave Millett, managing director of telecoms brokerage Equinox, asks what can be done

Insight / Charity Commission push to improve financial governance

The Charity Commission is on a drive to ensure trustees understand their basic financial responsibilities when running a charity, and is calling on financial professionals and accountants to take a leadership role in the renewal of financial governance in the charity sector

Insight / Investigation finds unauthorised payments at cancer charity

An investigation by the Charity Commission into Kids Integrated Cancer Treatment Ltd (KICT) has found the charity had ‘serious deficiencies’, including inadequate financial controls and unauthorised trustee remuneration payments
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