Further to my post about proposed changes to the income threshold for charities in England & Wales to have their accounts audited, I can confirm the Statutory Instruments laid before Parliament will come into force for financial years ending on or after 31 March 2015:
- SI 2015/321 – The Charities Act 2011 (Accounts and Audit) Order 2015 increases the charity audit income threshold to £1 million; and
- adds the IFA and CPAA to the list of professional accountancy membership bodies able to carry out independent examinations of charities with income more than £250,000; and
- SI 2015/322 – The Charities Act 2011 (Group Accounts) Regulations 2015 increases the group accounts preparation and audit income threshold to £1 million.
Here at George Hay, my charities team carries out regular and extensive professional development. Whether your charity needs an audit or an independent examiners report, you can be rest assured that we have the experience to deliver.
The information provided in this blog illustrates my opinions and experiences, it does not constitute advice and I do not accept responsibility for any actions taken or refrained from as a result of reading this post.
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