Civil Society News Item - 'Qualified' Accounts Misunderstood By Most Small Charities

An article in the Civil Society newsletter has published a study by Sheffield Hallam University showing that almost 96 per cent of small charities which say their accounts are “qualified” when filing them with the Charity Commission have wrongly answered the question.

The study by the university’s business school, found that many small charities wrongly believed “qualified” to mean there were no issues with their accounts – rather than the actual meaning that the auditor or examiner had some reservations.

The Charity Commission began asking charities whether their accounts were “qualified” by the charity’s auditor or independent examiner, as part of the filing process, in 2014. The process of independent examination is an alternative to audit for charities with an income of up to £1m. 

The full article on the Civil Society website can be found by clicking here

 

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Halton & St Helens VCA is an infrastructure organisation that provides advice, information and development support services to voluntary, community, not-for-profit and faith organisations and volunteers in the Boroughs of St Helens and Halton.