News

Accounts monitoring: concerns highlighted by auditors in their audit reports 2017

Reports of Charity Commission accounts monitoring reviews.

In 2017, 80 charities filed accounts with a modified audit opinion, meaning that their accounts are, or may be, materially misstated. This is 17 fewer than in 2016. The main reasons why auditors issued modified audit opinions continued to be inadequate accounting records and not following accounting requirements.

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Alert for charities – use the regulated financial sector

The UK’s three independent regulators of charities (Charity Commission for England and Wales, Office of the Scottish Charity Regulator and Charity Commission for Northern Ireland) are issuing this alert to charities to advise that the regulated financial sector should be used.
It applies to a charity when it receives, holds, moves or uses money, particularly those moving funds internationally.

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SSAFA

SSAFA Mentoring Service awarded NCVO Accreditation

SSAFA, the Armed Forces charity has been awarded an accreditation from the NCVO(1) for its mentoring service, which supports and empowers veterans during their transition back to civilian life.

The NCVO Approved Provider Standard (APS) recognised the exceptional work of the mentoring service including its practices in management and operation, the processes for identifying service leavers in need, support of volunteer mentors and the results achieved through the service.

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New Directors appointed by FiMT

The Forces in Mind Trust (FiMT), established to help ex-Service personnel and their families make a successful and sustainable transition back to civilian life, has appointed five new Directors to its Board: Ross Campbell, Anaїs Reding, Nick Roberts, Robert Robson and Andrew Ward.

Ross Campbell is the Director, Public Sector at the Institute of Chartered Accountants England and Wales (ICAEW) where he leads the Institute’s work to improve standards in the management of the Public Finances, both in the UK and internationally.

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Accounts monitoring: Reporting of matters of material significance by auditors

The Commission reports on its accounts monitoring reviews to make charities more transparent and accountable, help trustees understand the risks charities face and improve reporting standards.
Auditors have an important role and their reports of matters of material significance inform the Charity Commission’s regulation of the charity sector and enable them to engage more promptly with charities in difficulty. In the six months to 31 October 2017, the auditors of 114 charities gave audit opinions containing information that they were required to report to the Commission as a matter of material significance.

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Charities that are connected with non-charitable organisations: maintaining your charity’s separation and independence

Charity Commission is seeking feedback on draft guidance for charities that have close relationships with connected non-charitable entities or organisations.
This consultation closes at 5pm on 15 May 2018
The Commission is consulting on draft guidance for charities on their relationships with connected non-charitable organisations.

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Commission receives annual £5m interim funding boost

The Charity Commission publishes update on current and future funding model

The Charity Commission has been awarded funding from the Government of £5 million per year to help it respond to significant increases in demand on its core regulatory functions, including registration and compliance.

This funding has been awarded as a interim solution, while the Commission considers longer term, more sustainable funding models.

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💭 A final thought from @Stuart__Cole "If you’ve not used it yet, apply the survey data to help others understand… twitter.com/i/web/status/1…

By @Cobseo 3 days ago

Afghanistan support

In light of recent events in Afghanistan, please find information and support resources here