Friday Afternoon Fraud

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May 13, 2016 at 18:53

Today is Friday, and for most people this means a chance to daydream about weekend plans, preparing for Eurovision, or listening to this musical masterpiece.

Is the SORP FRS 102 working for you?

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May 5, 2016 at 17:46

On the 4th May the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator (OSCR) published a research consultation on charities Statement of Recommended Practice (SORP) FRS 102.

Which SORP is right for you?

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April 5, 2016 at 17:05

Helena Wilkinson of Price Bailey weighs up the benefits and challenges for smaller charities that are deciding which SORP they should use, and provides some practical advice.

Hunting for the silver lining; the IFS, the economy and charities.

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February 12, 2016 at 15:07

This week I attended the IFS’s Green Budget 2016 event, which provides an essential commentary on the economic issues facing the current government over the next Parliament. The report comes at a pertinent time as the world economy faced a turbulent week in the stock markets. I’m going to look what this could mean for the charity sector by 2020.

What did the Romans ever know about data protection?

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January 19, 2016 at 17:33

As usual, quite a lot. Caesar famously used his cipher device to protect important and sensitive military data among his generals. So what can we learn from the famous Roman?

Audit or independent examination?

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June 15, 2015 at 14:57

In light of recent changes to audit thresholds, John O’Brien from Community Accounting Plus discusses the options now available, and things you should consider.

Why is transparency and reporting important for charities?

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April 9, 2015 at 09:22

Helena Wilkinson, Partner at Price Bailey   Charities have seen a lot more focused attention from the media over recent the last year on transparency. This has had a particular focus on remuneration, but has also spanned other aspects including investments, reserves and income streams – particularly government and local authority grants. Finance leaders in charities need to carefully think about the messages and information that you disclose (and do not disclose) about your organisation.  One key aspect of this communication and interaction with the public is the statutory accounts – which are readily and freely available for most charities off […]

Audits, thresholds and transparency

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January 30, 2015 at 11:34

Last week, the Cabinet Office consultation on the future of the audit threshold for charities concluded. Charity Finance Group, in partnership with NCVO, responded to the consultation on behalf of members. Audits are an important part of the regulatory landscape for charities, and the government has proposed lifting the threshold for which charities have to have their accounts audited from £500,000 to £1m. We have supported this move, in line with responses from members to a previous consultation which proposed lifting the audit threshold. For many small and medium sized charities, audit costs can be significant and may not be […]

‘Professionalism’ is not a dirty word

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January 28, 2014 at 18:34

2014. I can’t quite believe that this is my fourth year working within the sector, but I’ve been sensing that the pressure on us as a ‘sector’ has intensified… Pensions. Pay. Investments. The way we do ‘business’. When I came to CFG in 2010, the biggest challenge taxing charity FDs was the uncertain economic climate. Now, broadly speaking, I believe that we’ve got to grips with this ‘new norm’. That’s not to say that all is rosy in the garden on the funding front, but rather that much of the contraction in our sources of income, biting so deeply after […]

Accounting for different charity structures

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November 15, 2013 at 12:22

The legal and reporting framework anchors the values shared by charities, while still allowing flexibility where there is divergence in business model. The guidance for financial reporting in charities, or the SORP, provides part of the anchor, but should also enable innovation.  That’s where references in financial reporting guidance to new age concepts like social investment can come in.  But it’s not just about the newbies; old chestnuts such as how to account for trading subsidiaries are also critical to innovation.  Charity trading has developed immensely, from something previously aligned with running a few charity shops, to contracting out services, selling […]