“The Charity Commission’s has recently reported on its Accounts Monitoring Review and highlighted the concerns raised by auditors. It has revealed that ‘in 2016, 97 charities filed accounts with a modified audit opinion, meaning that their accounts are, or may be, materially misstated.

Approximately half of these charities had gaps in the evidence that supported their accounts, mostly because of deficiencies in their accounting records.

The other charities had not followed charity accounting requirements, either by valuing their properties or investments incorrectly or by not including pension liabilities in their accounts.’

The Commission have produced a range of guidance to help Trustees avoid a modified audit opinion.”

 

This information was taken from the MHA Hudson MacIntyre website, here.

 

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