Accuracy is Key

The Charity Commission have recently checked a sample of charity accounts and annual returns to assess accuracy levels. The charities sampled are of varying sizes.

Charities with income under £25,000 – 60% accurate

Charities with income over £25,000 – 89% accurate

Charities with income over £500,000 – 80% accurate

The most common error is the wrong figure being inputted from the accounts into the annual return.

The easiest way to avoid this happening is to ensure the person submitting the accounts is familiar with your financial information but also competent with charity annual returns.

Clearly presented accounts are easier to understand and help reduce the risk of errors occurring when inputting the figures into the annual return.

We can assist with this process and can answer any queries that may arise during the completion. For more info please call 01482 427360, email help@360accountants.co.uk or for more information on our charity services click here.

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