Commentary

63.2 Audit and independent examination

CHARITIES AND CHARITABLE GIVING vol 6(2)
| Commentary

63.2 Audit and independent examination

| Commentary

63.2 Audit and independent examination

Where the gross income of a charity exceeds £1 million or where the gross income exceeds £250,000 and the assets of the charity exceed £3.26 million, the accounts must be audited by a person eligible under Part 42 of the Companies Act 2006 or who is a member of a body specified in regulations made by the Secretary of State1.

For financial years ending on or after 31 March 2015, the charity may opt for an independent examination instead of an audit provided its gross income is not more than £1 million, or where the gross

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