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...
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...
Hundreds of charities and social enterprises across the UK are set to receive a share of tied up and forgotten accounts worth millions. There is £800m worth of dormant assets and the government has recently announced how £76m of these assets will be distributed. The...
A recent study from the Digital Conveyancing Maturity Index found that the average digital maturity of law firms in England and Wales was 43%. Furthermore only 5% of law firms scored higher than 80%. This will perhaps come as a shock too many considering the pandemic...
The SRA has increased their fining power Last year the SRA increased its fining powers from £2,000 to £25,000 to enable them to impose larger fines on legal firms that fail to implement adequate Anti Money Laundering training and systems. Before this change any fines...
The first set of provisions from the Charities Act 2022 came into force on 31st October 2022. The first set of provisions can be found here: https://www.gov.uk/government/news/first-set-of-changes-from-charities-act-2022-come-into-force The Charities Act 2022 gained...
In 2021, one in eight charities (12.5%) were victims of a cyber-attack according to a survey of 2,330 charities across England and Wales conducted by IFF Research. The pandemic meant that charities were forced to gravitate towards online fundraising methods to enable...
Recent data has found that one-off charitable donations have dropped due to the cost-of-living crisis. However, perhaps unsurprisingly since the start of the pandemic charities have reported a significant rise in digital donations. One-off charity donations...