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Hi sir, am i right to say that not all charities are required to be audited ?
Only charities of a certain size are required to be audited right ?
Current UK rules are:
“Except for NHS charities, only those charities with gross income of more than £25,000 in their financial year are required to have their accounts independently examined or audited – below that threshold, an external scrutiny of accounts is only needed if it is required by the charity’s governing document.”
Other countries may have different regulations. Note that the £25,000 threshold is very low, exempting only the smallest charities.
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