Displaying 1-30 of 87 results
Charity Commission delivers updated guidance for charities about internal financial controls
- Jun 2023
- Amie Woods
The Charity Commission has published updated guidance on internal financial controls, also known as CC8, to help charities operating in an increasingly digital world. Internal financial controls are key tools for trustees to use to protect their charity and its resources, which is a key responsibility for all trustees. We have updated our guidance to make it clearer, shorter and ensure it reflects the many ways charities operate today.
Interest rates have risen – does your charity’s bank know?
- Jun 2023
- Heather Lamont
Following the latest announcement by the Bank of England in mid-May, the UK’s official rate of interest is now 4.5%. That is forty-five times greater than the 0.1% which was in place until December 2021, when the Bank’s monetary policy committee (MPC) began raising rates in its drive to bring inflation under control.
5 leadership roles for Chairs on finance
- Apr 2023
- Rosalind Oakley
The finance team are of course essential on charity finance, whether they are a Treasurer, a Chair of finance committee, a Finance Director or other member of the finance staff and they do much of the heavy lifting. But Chairs need to play their role too – starting with these five key areas of financial leadership.
6 questions to help you manage conflicts of interest
- Apr 2023
- Kristina Kopic
Frequent readers of Charity Commission investigation reports may have noticed a recurring theme: issues often arise when conflicts of interest are not managed effectively by trustees. Here are six questions to help you assess whether your charity has appropriate safeguards in place to manage conflicts of interest.
Legacy fraud – a charity CEO’s cautionary tale
- Apr 2023
- Kristina Kopic
Legacies are a vital source of income for many charities but the lack of control over the administration of the estate can leave charities at risk of fraud. I spoke with charity CEO Stuart Craig about his experience of fighting for a £1.5m stolen legacy and asked for his hard-won advice on how charities can mitigate the risk of legacy fraud.
Charity regulatory roundup – April 2023
- May 2023
- Kristina Kopic
In this article, we’re taking a closer look at two Charity Commission updates from April, the changes being introduced by the Charities Act 2022 and the Charity Commission’s upcoming investment guidance.
Why FRED 82 matters to charity finance professionals
- Apr 2023
- ICAEW Insights
The Financial Reporting Council (FRC) is seeking feedback on draft amendments to FRS 102. Here’s why it’s important for all charity finance professionals to make their voices heard before the consultation deadline of 30 April 2023.
Charity regulatory roundup – March 2023
- May 2023
- Kristina Kopic
In this article, we’re looking at some of the regulatory updates from March, including OSCR guidance, HMRC’s consultation on VAT energy saving materials relief, and the Charity Commission’s advice on campaigning on refugee issues.
New report confirms charity leaders fear for future
- Mar 2023
- Stephen Cahill
Research by Cranfield Trust highlights the devastating impact of the cost-of-living crisis on frontline charities in Scotland.
Charity Annual Return 2023 – a closer look at the new questions
- Mar 2023
- Kristina Kopic
The who, what and why of the new questions.
Spring Budget highlights for the charity sector
- Mar 2023
- Kristina Kopic
In his Spring Budget speech, the Chancellor praised the brilliant work that third sector organisations are doing to help people in need. Will the additional funding for charities be enough to fill the financial gaps of struggling charities?
Charity regulatory roundup – February 2023
- May 2023
- Kristina Kopic
This month, we’re looking at some of the regulatory updates from February, including a guide to the Charity Annual Return 2023, a reminder of the Commission’s 5-minute guides for charity trustees and a reminder to donate safely to emergency relief appeals. We’ll also examine the latest OSCR news.
What can charities expect from the Budget?
- Feb 2023
- Richard Bray
The chancellor has announced that the Spring Budget 2023 will be held on 15 March 2023. With many charities facing unprecedented challenges due to the cost-of-living crisis, Richard Bray, Chair of the Charity Tax Group and a member of ICAEW’s Charity Committee, is asking what charities can expect from the Spring Budget and outlines three key proposals.
Helping charities through the cost-of-living crisis
- Feb 2023
- ICAEW Insights
With recession looming, what should be top of the list of strategic considerations for charity accountants to help to support the sector?
FRED 82 – why this consultation matters to charities
- Feb 2023
- Kristina Kopic
The Financial Reporting Council (FRC) has published draft amendments to UK GAAP standards for comment. Here’s why it’s important for all charity finance professionals to make their voice heard.
The 10 distinct roles of the board member
- Feb 2023
- Stephen Cahill
What is the role of a charity trustee? There are at least several roles or archetypes that every board member will (or should!) encounter on their journey.
Charity regulatory roundup – January 2023
- May 2023
- Kristina Kopic
We’re taking a closer look at some of the Charity Commission’s updates from January.
The inflationary mirage
- Feb 2023
- Ajay Johal
At some point this year, inflation is likely to drop significantly. This would of course be a welcome development, especially for charities, whose investment objectives are particularly threatened by inflationary environments. But beware mirages.
How can charities combat fundraising fraud?
- Jan 2023
- ICAEW Insights
A pernicious and disheartening crime, fundraising fraud poses a threat to the entire charity sector. Here, experts provide their thoughts on how to manage the relevant risks.
Charity financial concerns prompt call for trustees to step up
- Jan 2023
- ICAEW Insights
Access to accurate financial information and the right advice is key to charities’ ability to weather the current economic storm, insolvency expert warns.
Charity governance: which way after Kids Company?
- Jan 2023
- ICAEW Insights
The Kids Company debacle has highlighted a huge mismatch between the legal responsibilities of trustees and the expectations of the regulator.
Development of the first International Non-Profit Accounting Guidance
- Dec 2022
- Kristina Kopic
In November, IFR4NPO released an Exposure Draft for the development of the first International Non-Profit Accounting Guidance (INPAG) with a mission to improve clarity and consistency of Non-profit Organisation (NPO) financial reports.
How to improve your charity’s annual report
- Dec 2022
- Kristina Kopic
PwC’s Building Public Trust Awards 2022 provide valuable learning and case studies for charities that want to go beyond compliance and build trust through clear and engaging reporting.
Welcome to the Charity Community!
- Dec 2022
- Kristina Kopic
Thank you for joining the Charity Community! Find out about your benefits and what we’ve got planned for 2023. We look forward to supporting you in your paid and voluntary charity roles with our programme of resources, events, webinars and newsletter articles.
Charity regulatory roundup - December 2022
- May 2023
- Kristina Kopic
We’re taking a closer look at two of the Charity Commission’s December updates; firstly the regulator’s new guidance on managing financial difficulties as a result of cost-of-living pressures, and secondly the updated set of questions in the Annual Return.
Charities: taken for granted in challenging times?
- Nov 2022
- ICAEW Insights
The Autumn Statement responded to the charity sector’s key demand to uplift benefits in line with inflation, but the government failed to provide targeted support for charities on the frontline of the cost-of-living crisis.
Gift Aid, loans and loan waivers
- Nov 2022
- Kevin Russell and Nicola Evans
HMRC now allows charities to claim gift aid on waived loans if specific conditions are met and the donation is gift aid eligible. Find out how to get it right and structure the gift to maximise the benefit to donor and charity.
Charities and banking – some lessons we can learn
- Nov 2022
- Elliot Harris
Top tips and common pitfalls.
Changes to your Community
- Nov 2022
- Kristina Kopic
The Charity Finance Professionals Community and the Volunteering Community will join forces as a brand-new Charity Community.
Why should charities diversify their trustee boards?
- Nov 2022
- ICAEW Insights
Charity professional Penny Wilson outlines the best practice in finding trustees to help your organisation thrive – it all starts with reaching beyond your own networks, she says.
Displaying 1-30 of 87 results