Call for lottery help.
MPs call for more accountancy help for small groups seeking funding
MPs call for more accountancy help for small groups seeking funding
The National Lottery Charities Board has been urged to step in with accounting and management help for small groups that may have difficulty preparing and administering projects.
The call came from the Public Accounts Committee amid concern some projects may be losing out while in others lack of supervision has resulted in projects failing to proceed as planned – and ten cases of fraud.
In the case of one adventure playground project, £16,000 of lottery grant money was used to pay off an Inland Revenue debt, resulting in the entire outstanding grant being withdrawn and a refund demanded.
MPs put it to the board ‘that some groups come from deprived areas and cannot afford to use an accountant or solicitor’.
But the board claimed a survey showed that while there was a potential barrier, their application forms were manageable.
The committee said the scale of grant giving meant any shortfall in performance put very large sums at risk and estimated that out of grant awards totalling £460m, between £65m and £145m ‘could have been given to projects which were not delivering the intended level of service or activity at the time of the NAO examination.’
Where angels fear to tread – interview with PAC chairman David Davis, page 8.
The numbers you crunch tell a story. Your expertis...
23yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article