Upcoming Charity Reporting Changes: Practical Points For Trustees

The government has recently announced changes to the accounting and reporting thresholds which apply to charities. These changes will take effect in September of this year and will alter the reporting requirements that apply to many charities. This may mean that some charities may no longer need an independent examination or audit of their accounts.

Impact on charities

It is anticipated that the proposed changes will help to lessen the administrative burden for charities and will reduce the expenditure involved with complying with reporting requirements.

The government estimates that these changes will result in annual savings of £47 million per year on average for the charity sector.

Key reporting requirements for charities