Thursday 29 August 2019

UK: Charity Commission publishes new external scrutiny benchmark and compliance results

The Charity Commission (England and Wales) has published the results of its assessment of a sample of 296 charities' accounts against a new external scrutiny benchmark: see here. The purpose of the Commission's research was to find out if a minimum standard of scrutiny by auditors and independent examiners had taken place. The Commission found that just over three quarters of charities with an income of £1 million or more met the benchmark. However, among charities with income between £25,000 and £250,000, only 37% met the benchmark.

The Commission has also published a report on charities' reporting of related party transactions: see here.

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