The Charity Commission is concerned that some auditors are letting charities down. According to the Commission, over half of the accounts submitted by charities failed to meet basic benchmarks. It stresses that 44% did meet the required standards for a charity audit and emphasised the crucial role accountability has in generating public confidence in the sector.
Nigel Davies, head of accountancy services at the Charity Commission said:
“The public care deeply about transparency in charities, and it is vital that charities are able to provide an accurate and clear picture of their finances.
“It is disappointing that so many independent examiners and auditors appear to lack the necessary understanding of the external scrutiny framework.
“Those that are getting this right are playing an important role in upholding charities’ accountability, clearly others are letting the profession and charities down.”
Wayne Thomas, Partner and charity audit specialist at Bates Weston comments;
“Bates Weston is one of those getting charity audits right. Our audit teams are trained and qualified in this specialist area and we have taken care of some of our region’s leading charities and not for profit organisations for many years. We act as a sounding board for many of our charities, advising on any financial issues throughout the year as well as assessing risk and recommending process improvements during their audit”.
Joe Russo, Founder of The Enthusiasm Trust says of our longstanding relationship:
“We have been working with Bates Weston for over ten years. They have provided fantastic support and when necessary acted as a critical friend. Over the past couple of years, during a very challenging time for charities, Bates Weston have been there to provide the utmost professional service. Their knowledge of the charities sector is extensive, and they are able to make complex financial issues readily understandable.”
If you would like to speak to us about your charity’s audit, please do get in touch.