Recent research from the eighth quarterly VCSE Sector Barometer from Pro Bono Economics has found that only 37% of charities have what they consider to be a complete board of trustees. This means that 63% of charities have an incomplete board of trustees at the time...
The new Justice Minister, Shabana Mahmood, has said she is pledging to make public funding a priority and to smooth relations with the Legal Aid Agency. The Legal Aid Minister, Heidi Alexander admitted that the legal aid system was on life support and it would be a...
The SRA has been given the go ahead by the Legal Services Board (LSB) to increase the compensation fund contribution for 2024/25 by 270%. This decision has been made partly to cover the costs of the Axiom Ince intervention. In addition to the increased contributions,...
Navigating the financial landscape can be complex, especially when it comes to managing accounts for different types of organisation. While both business and charity financial reporting is essential for their respective entities, they serve distinct purposes and...
The role of a charity trustee One of the biggest challenges for charities and trustees is determining where trustee involvement should begin and end. This is particularly important for small and growing charities. It is also important to clarify the differing roles of...
To become an qualified accountant typically a combination of accounting skills, education, qualifications and networking skills are required in the industry. Education University Route To start a career in accounting, education is key. The most common path to...
Artificial intelligence (AI) is poised to revolutionise the practice of law, potentially reshaping the principles of common law, according to Sir Geoffrey Vos, the Master of the Rolls. Speaking at the Manchester Law Society, Sir Geoffrey offered an optimistic view of...
Accounting is a fundamental pillar of measuring a successful law firm. Law firms, have unique financial considerations that require careful attention to ensure compliance with regulations and business performance. From managing client funds to handling operational...
Succession in law firms is very real problem in the UK The age profile of the legal sector is increasing. The huge wave of legal practitioners who entered the market 30 or 40 years ago are today of an age when they begin to contemplate phasing down or retiring...
An independent party conducts an audit to investigate a company’s financial report. The audit aims to provide assurance (different from a guarantee) that the financial statements are true and fair according to the relevant financial reporting framework. Typically,...
The Importance of Diverse Funding In the UK, charities play a key role in supporting communities, addressing issues within our society and changing people’s lives for the better. But for charities to be able to deliver these vital services they need to be able to...
The fundraising platform JustGiving has announced that over £550m was raised for nearly 20,000 UK Charities through their platform in 2023. This is based on data provided by JustGiving which was taken from 1 January to 15 December 2023. This data only related to...