PracticeAuditLetters – Clawing back: auditors face the nightmare of further

Letters - Clawing back: auditors face the nightmare of further

There is another nightmare round the corner for small charities and their auditors (Audit red tape could hit charity funds, page 1, 27 September). The company law review proposes that company charities adopt a 31 March year-end. Many small charities adopt a 31 March end to coincide with funders and government accounting periods. This sets the reporting date at 31 August. Charity accounts need to be approved by a full meeting of trustees – scheduling one of these between mid-July and the end of August would be remarkable as this is the main time for holidays. Firms with charitable company clients with a 31 March year end will have to complete most of their charity audit accounts within three-and-a-half months from the year end.Those that are willing to take on the onerous work of charity accounts, I suspect, will be cursing the day they did.

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