We have a keen personal interest in the sector and accordingly, our portfolio of Charity sector clients continues to grow. Despite the significant challenges that are faced by the sector, there is a growing need for them to seek out quality professional support.
We are building a strong reputation as Accountants to Charities, and not for the profit sector.
How we can help with Charity sector advice
Audit & Financial Reporting (SORP)
We offer a range of services to our Charity sector clients. We seek to provide the expertise of a large Charity advisory firm, but with the personal Partner-led approach of a smaller firm.
We offer a high, quality value added Annual Audit service. By using specialist audit software, we can deliver an efficient economic audit that matches strict compliance requirements without interfering with clients’ need to run a successful charity. This means minimising any disruption caused by the audit process and maximizing the potential to bring your meaningful insights on activities and financial controls within the organisation.
Not all charities and not for profit organisations require an audit. If you are below the threshold, we can assist you by completing an Independent Examiners’ report.
Working closely with one of the country’s leading Charity VAT Specialists, we can provide high level specialist tax advice such as gift aid, sponsorship, governance, mergers, reviewing budgets etc.
This is a major area of focus for the Charity Trustee as there is more pressure to demonstrate good governance.
We can assist with governance reviews and follow-up advice, encompassing policies and procedures, and risk reviews. This will assist the Trustees to develop a framework in order to deliver their objectives in the most efficient and effective way.
The Charity Commission requires all charities to draw up, publish, implement and monitor their reserves policy.
A reserves policy is a key part of a charity’s financial management and planning. The reserves policy should help to:
- Inform strategic decision making, e.g. whether to fund new activities from reserves, or acquire external finance;
- Develop the organisation’s budget for the year, e.g. whether excess reserves can be spent down; and
- Identify areas of financial risk, e.g. potential cashflow issues.
Externally, the reserves policy demonstrates to funders, donors, lenders, beneficiaries and other stakeholders that the charity is sustainable, well-managed and resilient to change. It helps to communicate why funding is needed or, conversely, explain why considerable unrestricted funds are held and how they will be spent.
With our help, Charities can develop a reserves policy that is well thought out, appropriate to the organisation and clearly explained in the annual report.