2015 April 08

Too Many Charity Accounts are Unacceptable

The Charity Commission surveyed 215 charitable accounts, comparing them over two financial years, and found that less than two thirds of charities produced acceptable accounts during that period. Only one third of charity reports fully meet legal requirements.

This comes as no surprise to Right Balance Accounting as we have often found it necessary to re-work our clients’ accounts to show, for example, the fund balances of both unrestricted and restricted funds, or to derive correct comparative figures. In some cases we have re-drafted accounts, prepared by others, to put them into a format that fully complies with the Charities SORP.