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Charities

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Charities

  • This topic has 2 replies, 2 voices, and was last updated 7 years ago by Anuja Nair.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • November 9, 2017 at 11:34 am #414973
    Anuja Nair
    Member
    • Topics: 365
    • Replies: 353
    • ☆☆☆☆

    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 ?

    November 9, 2017 at 1:52 pm #414996
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10599
    • ☆☆☆☆☆

    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.

    November 11, 2017 at 3:28 am #415185
    Anuja Nair
    Member
    • Topics: 365
    • Replies: 353
    • ☆☆☆☆

    Okay sir. Thank you.

  • Author
    Posts
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  • The topic ‘Charities’ is closed to new replies.

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