Specialist charity accountants - also for those that don't need auditing

While Tax Agility Accountants have large charities as clients, we are specialist small charity accountants too, specifically those that don’t need an audit. The government recently increased the basic audit threshold from £500,000 to £1 million. This means there are many more charities out there that can benefit from Tax Agility’s services. Such charities do, however, require an Independent Examination.

Central to our charity accounting service is the “Independent Examination”. While the trustees are responsible for preparing the charity’s accounts, Tax Agility will examine the accounts in-line with the General Directions of the Charity Commission.

Our service will ensure that your accounting records have been produced and prepared in the correct format, in accordance with Part 8 of the Charities Act, or for incorporated companies registered with Companies House, section 386 of the Companies Act 2006.

Whether or not you choose to be audited is up to you. One should consider that those providing grants and indeed local authorities, may still require that you are audited in order to satisfy their own grant provisions. Undertaking an Independent Examination instead of an audit, even if you are under the threshold, may affect your ability to apply for grants in the future.

As charity accountants, part of our independent examination we will include:

  1. Examine your accounting records
  2. Compare the presented accounts with your accounting records
  3. We will also look for unusual items or disclosures and seek to uncover the explanations behind them.

The key thing to remember with the examination is that it does not provide all the evidence usually associated with an audit. That means a statement of opinion as to whether the accounts represent a ‘true and fair’ view is limited to what is contained in the examiner’s statement.

Our primary goal

The primary goal of Tax Agility’s Independent Examination service, just like many of our other small business tax services, is to remove the regulatory burden from you and allow you to get on with running your charity or not-for-profit organisation.

Our experience with charities is extensive, working with the larger charities gives us insights that can help the smaller developing and aspiring charities.

Talk to Tax Agility today and find out how our experience as charity accountants can help your charity achieve it’s philanthropic goals.