How can charity trustees avoid scrutiny from the regulator?

Charity trustees have recently come under scrutiny from the regulator, which is a reminder to trustees that they need to keep detailed and up to date accounting records to maintain a positive, transparent relationship.

Only recently a compliance case was launched against a charity where an independent examiner was unable to locate records of large amounts of expenditure and donations.

At Hawsons we work with many charities and always advise our clients keep up to date, accurate accounting records. Specific guidance is available for internal financial controls for charities known as CC8. It is advised that charity trustees become familiar with this guidance to implement best practices and procedures. If you are in doubt about any of the guidance or regulations we would advise seeking professional advice from either a finance or legal expert. They will help ensure that you are operating within the framework of the guidance and regulations.

How can we help?

At Hawsons our accountants recognise that not-for-profit organisations have very different requirements from other businesses and are currently exposed to a challenging economic climate.

Our dedicated team of charity accountants fully understands the complex, ever-changing regulatory requirements of the charity and not-for-profit sector. Irrespective of your size we wish to support you to maximise the benefits you could achieve through our specialist professional advice.

Charities & not-for-profit organisations are currently facing extensive changes in their regulatory and legal framework. Given the additional pressures on fundraising, complex tax regimes, internal risk exposure, and stakeholder demands, it has never been more important to obtain specialist professional advice.