Charities

Insight / Guidance on disqualification rules for charity execs

The Charity Commission has published guidance on changes to the automatic disqualification rules which mean there are tougher restrictions on who can run a charity or hold senior management roles, plus details of how individuals can apply for a waiver from the new regulations, which come into effect from 1 August

Accounting / Charity accounts: what trustees need to look out for

Many trustees will be expert in accounting, but will still find charity accounts a bit of a mystery. Other trustees will not have much financial training but they are equally responsible for the financial governance of the charity. Judith Miller, partner at Sayer Vincent explains how to make sense of charity accounts

Insight / Charity Commission warning over school payment frauds

The Charity Commission has issued a formal alert about the dangers of payment diversion fraud in the independent schools sector, based on reports made in the past month to Action Fraud, the UK’s national fraud reporting centre

Insight / Commission to look at financial controls at special school charity

The Charity Commission has opened a new statutory inquiry into Hope House School Ltd, a special school for children with autistic spectrum disorders, over concerns about the charity’s financial controls and governance

Insight / Charity Commission set to disqualify unsuitable CFOs and chief executives

From 1 August 2018 changes to the automatic disqualification rules for trustees and senior managers mean there will be more restrictions on who can run a charity in a bid to tighten governance

Insight / Charities urged to check MiFID compliance requirements

Charities which invest and trade on the financial markets in the UK are being warned they now need to apply for a legal entity identifier (LEI) following changes to the regulations under the European Markets in Financial Instruments Directive (MiFID II) 

Accounting / Charity Commission launches amended annual return requirements

The Charity Commission has made amendments to the content of the annual return for 2018, including dropping proposals for charities to report on their claims for rate relief or gift aid, but has retained a new requirement to report on executive pay

Insight / 2018: what's in store for accountants in the year ahead?

From endless speculation about the effect of Brexit on business and jobs to the tax implications of the gig economy, the arrival of three major IFRS standards on revenue recognition, financial instruments and leases, not to mention the challenges of recruiting and retaining great staff, Rachel Willcox talks to leading tax and accounting experts about their concerns and hopes for 2018

Insight / Charity Commission disqualifies trustee over accounting failures

The Charity Commission has disqualified an individual as a trustee for four years for failure to evidence how charity funds were used at Deen Team, a charity which undertook activities in Syria

Tax / Scammers dupe taxpayers into settling rogue tax bills with iTunes gift cards

HMRC is warning the public about a high profile phone scam that is conning vulnerable and elderly people out of thousands of pounds into paying non-existent tax bills using iTunes gift cards 

Insight / Treasury clarifies anti money laundering supervision rules

The Treasury will go ahead with the introduction of new regulations for anti-money laundering (AML) supervision, which include establishing a new body to oversee the 22 professional body AML supervisors in accountancy and law, which will come into force on 18 January 2018

Insight / Investigation into Bristol disability charity

The Charity Commission has opened a statutory inquiry into the Darren Wright Foundation, after receiving complaints about difficulties in communicating with the charity and concerns about accessing funds intended for beneficiaries

Insight / Charity trustees urged to act on safeguarding

Charity Commission has published a safeguarding strategy urging all trustees to act proactively to ensure no one who comes into contact with their charity suffers distress or harm, highlighting safeguarding as a key governance priority

Audit / Hike in audit thresholds for community benefit societies

Audit thresholds for co-operatives and community benefit societies will double from April 2018 in a bid to reduce red tape for the smallest organisations

Insight / Charity Commission needs to seek sustainable funding, warns NAO

The National Audit Office (NAO) says the Charity Commission has improved its performance significantly since 2013, when it was found not to be an effective regulator, but still needs to do more to plan for ‘an uncertain and dynamic’ future, particularly in regards to its funding
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