{"id":56013,"date":"2015-03-27T10:00:00","date_gmt":"2015-03-27T10:00:00","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=46c590b6c7e7a48ca6645a87527dcc08"},"modified":"2015-03-27T10:00:00","modified_gmt":"2015-03-27T10:00:00","slug":"press-release-changes-to-audit-thresholds-to-help-charities-come-into-force","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=56013","title":{"rendered":"Press release: Changes to audit thresholds to help charities come into force"},"content":{"rendered":"<div class=\"govspeak\">\n<p>The Charity Commission, the independent regulator of charities, is advising charities of changes to charity audit thresholds which are aimed at reducing the regulatory burden for charities. The changes come into force on 31 March 2015.<\/p>\n<p>The Government changes include increasing the basic audit threshold from \u00a3500,000 to \u00a31 million, meaning less charities will be required to have their accounts formally audited. Those charities can instead have their accounts looked at by an increased pool of Independent Examiners, ensuring that the level of assurance remains high.<\/p>\n<p>Other changes that come into force include:<\/p>\n<ul>\n<li>increasing the aggregate group income threshold at which parent charities should have group accounts from \u00a3500,000 to \u00a31 million<\/li>\n<li>increasing the preparation threshold for group accounts from \u00a3500,000 to \u00a31 million<\/li>\n<li>adding the Institute of Financial Accountants and the Chartered Public Accountants Association to the list of recognised professional accountancy membership bodies whose appropriately qualified members can carry out independent examinations of the accounts of charities with incomes that are more than \u00a3250,000<\/li>\n<\/ul>\n<p>The changes follow consultation by the Office for Civil Society with charities and the accounting sector. It is hoped that the changes will make it easier for charities to find a qualified Independent Examiner. <\/p>\n<p>Charities are encouraged to look at the changes and see if they can benefit from these changes, particularly those whose financial year has recently ended. <\/p>\n<p>The commission has updated guidance to reflect these changes. <a href=\"https:\/\/www.gov.uk\/government\/publications\/charity-reporting-and-accounting-the-essentials-march-2015-cc15c\">Charity reporting and accounting &#8211; the essentials March 2015 (CC15c)<\/a> is available on GOV.UK.  <\/p>\n<p>Ends<\/p>\n<p>PR23\/15<\/p>\n<hr>\n<h2 id=\"notes-to-editors\">Notes to editors<\/h2>\n<ol>\n<li>\n<p><a href=\"http:\/\/www.gov.uk\/charity-commission\">The Charity Commission<\/a> is the independent regulator of charities in England and Wales.<\/p>\n<\/li>\n<li>\n<p>Our mission is to be the independent registrar and regulator of charities in England and Wales, acting in the public\u2019s interest, to ensure that: <\/p>\n<ul>\n<li>charities know what they have to do<\/li>\n<li>the public know what charities do<\/li>\n<li>charities are held to account<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<div class=\"contact \" id=\"contact_2196\">\n<div class=\"content\">\n<h3>Press office<\/h3>\n<div class=\"vcard contact-inner\">\n<div class=\"email-url-number\">\n<p class=\"email\">\n              <span class=\"type\">Email<\/span><br \/>\n              <a class=\"email\" href=\"mailto:pressenquiries@charitycommission.gsi.gov.uk\">pressenquiries@charitycommission.gsi.gov.uk<\/a>\n            <\/p>\n<p class=\"tel\">\n              <span class=\"type\">Press enquiries &#8211; office hours<\/span><br \/>\n              0300 065 2123\n            <\/p>\n<p class=\"tel\">\n              <span class=\"type\">Press enquiries &#8211; out of hours<\/span><br \/>\n              07785 748787\n            <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Commission guidance published to reflect changes.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/56013"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56013"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/56013\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}