Harbinson Mulholland Charities Team Accounts Audit Advice.

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Presentation transcript:

Harbinson Mulholland Charities Team Accounts Audit Advice

Compliance A lot of big changes for NI Charities Title Placed here

Presentation Title Placed here Charities Act (Northern Ireland) 2008 The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 Charities SORP 2015 Companies Act 2006 CCNI Returns Legal Framework

Presentation Title Placed here Regulations IncomeFormatAssuranceSubsidiary <£250,000Receipts and payments? Independent examination - £250,000 - £500,000SORPQualified Independent Exam - >£500,000SORPAuditGroup accounts

Presentation Title Placed here SOFA layout Cash flow Consolidation New accounting treatments Statement of Recommended Practice (SORP)

Presen tation Title Placed here Fair value of assets Income recognition Employee benefits Mixed motive investments SORP

Prese nt SORP New SORP para 12: “ALTHOUGH PAST, CURRENT AND POTENTIAL FUNDERS, DONORS AND FINANCIAL SUPPORTERS OF A CHARITY ARE THE PRIMARY AUDIENCE FOR THE FINANCIAL INFORMATION CONTAINED IN A CHARITY’S REPORT AND ACCOUNTS, THE PREPARER SHOULD ALSO BE AWARE THAT INTEREST IN THIS INFORMATION MAY ALSO EXTEND TO A CHARITY’S SERVICE USERS AND OTHER BENEFICIARIES.” ation Title Placed here

Prese nt SORP New SORP para 13: “THE REPORT AND ACCOUNTS SHOULD NOT BE VIEWED SIMPLY AS A STATUTORY REQUIREMENT OR A TECHNICAL EXERCISE. THE REPORT AND ACCOUNTS, WHEN READ TOGETHER, SHOULD HELP USERS OF THE INFORMATION TO UNDERSTAND WHAT THE CHARITY IS SET UP TO DO, THE RESOURCES AVAILABLE TO IT, HOW THESE RESOURCES HAVE BEEN USED AND WHAT HAS BEEN ACHIEVED AS A RESULT OF ITS ACTIVITIES.” ation Title Placed here

ccnitation Title Placed here Interim reporting rules Guidance currently out for consultation Upload accounts Should all be done in-house if you prepare in advance The Charity Commission for Northern Ireland (CCNI)

P resentati o n Title Placed here Do your accounts tell your story?

Presentation Title Placed here 1.Who uses the charity? 2.What do the users think? 3.How effective is the charity in medium/long-term? 4.Is the charity actually needed? 5.Does it put the people it helps first? 5 Questions

Tell yuopuion Title Placed here Accounts Trustees annual report Public benefit statement Website In-house publications Tell your story