Charities

Insight / Regulator investigates charity for second time

The Charity Commission has opened a second statutory inquiry into The Mohiuddin Trust to look into concerns over potential misconduct and mismanagement, including continuing problems with poor financial controls identified in an earlier investigation

Insight / Interim manager for charity with governance failings

The Charity Commission has appointed an interim manager, Geoff Carton-Kelly, a partner with FRP Advisory, to Jole Rider Friends after it suspended trustees following continued concerns about the charity’s governance

Accounting / Charity review finds drop in reporting standards

A review by the Charity Commission of charity’s public reporting has shown a decrease in the number that meet the basic benchmark for audit quality, the first time that such reviews have found a ‘significant deterioration’

Audit / Charity Commission to take hard line over material reporting

Two auditors have been reported to their professional body in the wake of the Charity Commission’s follow-up report on auditors’ compliance with the requirements for reporting matters of material significance, with the regulator warning it may take similar action without prior warning in future

Tax / Charities: tax implications of charitable giving - part 10

James Hender, head of private wealth at Saffery Champness, explains what charitable donors need to know to make sure they get the most out of their donations, using Gift Aid to its full tax relief potential and contingent capital gains tax (CGT) liability for high earners

Insight / Charity Commission warning over CEO gift card scam

The Charities Commission has issued an alert to charity trustees, employees and volunteers about the growing risk of CEO fraud through Christmas gift cards

Insight / Dealing with work relationships

Christmas parties during the festive season are popular with most accountants and tax advisers, but do not let behaviour cross the line and consider whether relationships at work should be declared, says Simon Wright, managing director of CareersinAudit.com

Insight / CMA to push for pension management reform

The Competition and Markets Authority (CMA) has announced a range of reforms to the investment consultancy sector, following a market investigation undertaken at the request of the Financial Conduct Authority (FCA)

Tax / Charities: tax pros and cons of setting up a charity - part 9

Stephen Relf FCA CTA, lead tax writer at Croner-I, discusses the requirements and obligations of setting up a charity, and what useful tax reliefs are available to both a business and an individual

Insight / Charity Commission alert on think tanks

The Charity Commission has issued an alert to remind trustees of their legal obligations and duties in relation to think tanks which have charitable status, pointing out that these are generally established for educational purposes and the charity must be politically neutral

Insight / Serious mismanagement found at £34m charity

The Charity Commission has found serious mismanagement on the part of the former board of trustees of the charity MA 1985 (formerly Muslim Aid), including financial irregularities, according to the findings of an inquiry set up five years ago

Insight / PwC finds pension schemes shifting investment strategy

Four in five pension schemes believe they are likely to become cash flow negative within the next five years and are considering changing their investment strategy, according to research from PwC

Accounting / Companies House to refer to UN sanctions over 'designated persons'

Companies house has issued guidance that United Nations (UN) sanctions have led to extra checks on applications to register some corporate bodies in order to ascertain if ‘designated persons’ (DPs) are involved

Audit / Crowe dominates charity sector audits

Crowe continues to dominate the audit market in the charity sector, according to a report which shows that over a quarter of charities have used the same auditor for more than ten years and only half of charities have an audit tendering process

Accounting / Charities: Gift Aid, deeds of covenant and trading subsidiaries - part 8

Helena Wilkinson FCA, partner at Price Bailey, examines the changes brought in by Financial Reporting Standard (FRS) 102 and what they mean for charities when it comes to recording donations in their accounts
Subscribe