Charity Audits and Independent Examinations in London
Does your charity require an audit? This will depend mainly on how much income the charity receives. The income limit varies according to the type of charity as follows:
- All charities where incoming resources exceed £1m, or incoming resources are more than £250k and gross assets are more than £3.26m require an audit
- All charities registered in England and Wales which do not require an audit, do require an independent examination if incoming resources are greater than £25k. Charities in Scotland will always require an independent examination if not audited
- where income is over £250,000 the independent examiner must be suitably qualified (if registered in England & Wales). For charities registered in Scotland, all independent examiners must be suitably qualified
There are many points to take into account, particularly regarding total assets, and the rules can be confusing.
We can help you to ascertain whether or not an audit or independent examination is necessary and, if appropriate, our specialist team will also complete this audit/examination.
How Bourner Bullock can help
Acting on behalf of charities in London and beyond, Bourner Bullock are experienced in conducting cost-effective audits.
Our charity experts will perform your auditing and financial analysis with a minimum of fuss and maximum efficiency and accuracy. Yet our service goes beyond simply looking through your organisation's books.
The charities team at Bourner Bullock will help you to make the best use of a potentially strict budget, whilst ensuring that your organisation is taking advantage of all the tax relief opportunities available.
Enlist us as your auditors and we will:
- Determine whether or not an audit or independent examination is required
- Maximise tax reliefs and allowances
- Carry out that audit/ independent examination
- Identify any potential future problems.
- Suggest ways to improve your organisation's finances
Bourner Bullock can carry out an audit or independent examination for charities, not-for-profit organisations and community interest companies. Contact us today to discover how we can help organisations in London to minimise the burden associated with charity accounts, audit and taxation.