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...
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...
On the 6th December, the Fundraising Regulator announced that it is looking to review a proposed increase to the Fundraising Levy in the charity sector for the first time since 2016. What is the Fundraising Levy? The Fundraising Levy raises the majority of the...
New research has found that charity sector income in the UK has shrunk for the first time in eight years for the 2020/21 tax year. It is thought that smaller charities have been affected the most due to the impact of the pandemic. The UK Civil Society Almanac 2023 has...
The Solicitors Regulation Authority (SRA) regulates solicitors in England and Wales. According to its latest annual report the SRA spent £16.5m on disciplinary processes in 2021/22, a £1.5m increase from 2019/20 (pre-covid). It should be noted that the SRA financial...
Whistleblowing plays a vital role in exposing wrongdoing, fostering transparency, and holding organisations accountable. Whistleblowing occurs when individuals within an organization bring to attention unethical or illegal practices, aiming to expose them to the...
In the digital age, fraud is showing no sign of slowing and is becoming an ever-present threat across all industries and sectors, in particular law firms that handle highly sensitive information on a daily basis. During these times, cybercriminal activity is becoming...
According to a recent study by Pro Bono Economics over half of charities (54%) have vacancies they are looking to fill. Furthermore, 83% of charities are finding it challenging to recruit as they attempt to meet increasing demand. Recruitment issues These...