Charity Commission sets benchmark for external scrutiny

Released 28 August 2019

The Charity Commission has released its external scrutiny benchmark, which sets out the minimum standards it expects auditors and independent examiners to meet.

The Commission has used the benchmark internally for a number of years, but hopes that by releasing this it will be able to improve standards by ensuring that auditors and independent examiners are aware of the expected minimum standards.

The Commission states that it hopes that the benchmark will enable trustees to make a judgment on whether their independent examiner or auditor is able to uphold the required level of quality.

During its annual review against the benchmark, the Commission found that of the 296 charities reviewed, 45% failed to meet the external scrutiny benchmark. The majority of these had income between £250,000 and £25,000.

For more information on this, you can read more on Accountancy Daily. Guidance and tools on quality external reviews of charity financial statements are available in on Croner-i Tax and Accounting.

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