Charity Audit Firm
We’re a mid-sized audit firm – and Chartered Accountants. We have the resources (70 staff) to meet your requirements for a charity audit – and we’re small enough to care for you as a client.
We’ve enabled our charity audit clients to reduce their audit costs – and increase savings and cash flow.
We have London auditors with specialisms in:
- Charity audits.
- Charity Independent Examinations.
- Charity VAT.
We take a risk-based approach to reduce “misstatements” and to design audit tests to ensure your audit report is factually accurate.
We are regulated by ICAEW. Our audits are fully compliant with:
- International Financial Reporting Standards (IFRS).
- FRS102 under the Financial Reporting Council.
- The Charities Statement of Recommended Practice (SORP).
Our staff have audited national charities as well as some Oxford colleges.
Benefits of Our Charity Audits
We ensure you:
- Are compliant with all legislation.
- Better understand your commercial risks.
- Make the best use of the tax regime.
- Optimise your VAT.
- Operate efficiently.
- Increase control.
Benefits of Our Charity Audit Services
- We can audit partially remotely.
- We minimise the time required for the audit as we have significant experience auditing a wide range of systems such as:
- Microsoft Dynamics.
- Sage Line 50 and 200.
Charity Audit Case Studies
Charity Audit Case Study: Client 1
- The charitable company had a problem with funds accounting and control over restricted funds.
- We trained their finance team to control their charitable funds.
- The charitable company is now able to report charitable funds and ensure there is no overspending on restricted funds.
Charity Audit Case Study: 2 Charity Shop
- The company was set up with the intention of raising funds for its parent company, a charity called CAPE. It was not maximising the tax advantages available.
- We advised their CEO to set up a retail gift aid scheme – to reclaim gift aid tax on the sale of donated goods.
- We then advised the client to register for VAT – so that they could reclaim VAT on their costs – without having to increase the price of donated goods sold.
- These resulted in additional income, and cost savings, so gift aid donations to the parent charity increased.
Charity Audit Case Study: 3 Arts Charity
- The charitable company were not fully compliant with the Charities SORP. We helped them transition from the Charities SORP (FRSSE 2015) to Charities SORP (FRS 102). They also staged live theatrical productions but had not considered the availability of theatre tax relief incentives to improve their cash flows.
- We advised their Finance team on the requirements of the Charities SORP to ensure compliance.
- We discussed with the finance committee the incentives available under theatre tax relief.
- The statutory financial statements now comply with the Charities SORP.
- The Trustees are reviewing their theatrical productions in light of the advice received under the theatre tax relief.
Charity Audit Case Study: 4 Arts charity
- The charitable company had staged loss-making theatrical productions and needed advice on whether these losses could be tax relieved. The charity was not complying with the legislation.
- We advised the charity on theatre tax relief – filed a claim with HMRC.
- They received a payable tax credit of £19,000.
Contact us today to improve your charity audit. You’ll be pleased you did.