The failure rate at 41% to meet the new reporting requirements demanded of charities serves as a wake-up call to all non-profit entities. It is indicative of a deficiency in the most important and critical performance area. Treasury and accounting […]
The thorny question of volunteer board remuneration
While there are legislative prohibitions regarding the remuneration of charity trustees, governing board members of incorporated societies are not debarred from accepting financial consideration for time spent on directing its affairs. Notwithstanding such an entitlement relatively few such entities with […]
What is the difference between an audit and a review of our financial report?
Your questions: What is the difference between an audit and a review of our financial report? Recent changes to the Charities Act 2005 create statutory audit and review requirements for medium and large Registered Charities from 1 April 2015. If […]
Credibility building through good financial reporting
Whether you are a charity reporting back to donors, funders and community stakeholders OR an association reporting back to members, sponsors and key stakeholders, strong financial accountability is a great way to build credibility. The process starts with a sound […]
Update on accounting practices for registered charities
As you may be aware, accounting requirements for registered charities are changing from 1st April 2015. There will be four tiers of reporting, from tier 1, which requires the charity to adhere to full accounting standards, to tier 4 which […]
Travelling with your partner on business?
How many of us have traveled for business and have wanted our partner to come for moral support and attendance at business events and dinners? Those of us from the non-profit sector who attend conferences have wondered about the deductibility […]