An Introduction to Charity Accounts & Audits
Charity annual reports and accounts are very different to those of companies in the 'for-profit' sector.
This introductory level webinar will provide an insight into the key features of charity sector accounts and to charity financial statements - and how they are prepared and audited. It is invaluable viewing for those who are new to the sector or who want a refresher on the basics.
What You Will Learn
The webinar will cover the following:
- The key features of the regulatory and legal framework applying to charities, including the requirement for audit and independent examination
- The format and content of charity accounts under the charity SORP and how these differ from accounts in the ‘for profit’ sector
- How to tackle a charity audit or independent examination with confidence, being aware of how these assignments differ from audits in the ‘for-profit’ sector
- The regulation of charities and different charitable structures
- The format and content of charity financial statements and the role of the SORP
- The fundamentals of income recognition and fund accounting
- Independent examination - what it is and how to tackle it
- Key tips and traps when undertaking charity audits