The audit of charities, where’s the risk?

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There are several aspects of charitable and not-for-profit entities that make them more prone to fraud and present particular problems for their Trustees and for their external auditors.

To hear more about this and how to handle the problems associated with charity audit and FRS 102 charity accounting matters, come to our morning and afternoon courses on Thursday 30 November 2017 at the Talbot Hotel Stillorgan, County Dublin.

Details of all our November/December 2017 courses are here.

Here are some for starters:

  • Funds accounting – income or expenditure may be allocated to the wrong fund, or funds are spent in a way that contravenes grant conditions, resulting in bad publicity, difficulty in obtaining new funding, or even withdrawal of funds;
  • The extent and nature of non-charitable trading;
  • Incomplete income recording where income for projects are missed;
  • Incorrect/inappropriate calculation of deferred income;
  • Non-receipt of income because the charity must apply for funds to be released or provide progress reports, and it fails to do this;
  • Donations in kind (i.e. donated goods, facilities and services including goods for resale, use by the charity or distribution to a third party);
  • Deficient reserves policy, inappropriateness of CEO remuneration, unapproved staff expenses and undisclosed related parties;
  • Misapplication of the provisions of the FRS 102 Charity SORP, especially on first implementation.

 

To hear more about this and how to handle the problems associated with charity audit and FRS 102 charity accounting matters, come to our morning and afternoon courses on Thursday 30 November 2017 at the Talbot Hotel Stillorgan, County Dublin.

 Details of all our November/December 2017 courses are here.