Newsletters

Independent Examination

Several recent developments such as the increase in the audit threshold to £1,000,000 and the increased threshold for preparation of consolidated accounts to £1,000,000, have led to the CCEW publishing a consultation on updated Directions and guidance which independent examiners must follow.

Reporting Serious Incidents

The CCEW have been consulting on proposed updated guidance for charities ‘What to do if something goes wrong: reporting serious incidents’. The updated guidance aims to help charities to identify what to report and when. It also provides guidance including: a list of the most common types of incidents; and explains who to report to …

Power to Disqualify

The CCEW has completed a consultation which sought views on the use of their discretionary disqualification powers which were introduced in October 2016.

Matters of Material Significance

Auditors and independent examiners have a duty to report to the relevant Regulator matters of material significance which they discover in the course of carrying out their audit or examination work.

SORP FRS 102

The joint SORP-making body and SORP Committee are in the process of a research exercise to identify necessary changes to the SORP as part of the triennial update.

Gift Aid Update

The Small Charitable Donations and Childcare Payments Act received Royal Assent in January 2017 and makes amendments to the legislation that underpins the Gift Aid Small Donations Scheme (GASDS).

Common Tax Mistakes

The Charities Outreach Team which was set up by HMRC aims to provide help and support to charities, and enable them to understand, benefit and claim reliefs through Gift Aid, the Gift Aid Small Donations Scheme (GASDS) and the Employment Allowance.

Governance Code – Draft

The Code of Good Governance Steering Group has developed a draft new Governance Code.

People with Significant Control – Update

The Department for Business, Energy and Industrial Strategy (BEIS) has issued a consultation on Article 30 of the Fourth Money Laundering Directive, which relates to information held regarding beneficial owners of corporate and legal entities.