Charity Commission website

As an IFA, I am confabulated by the Charity Commission's rules which stipulate in fine detail which qualified accountants ( in most towns members of a 'golden circle' can and can't prepare charity accounts. But impose no obligations on them to submit those accounts or ensure that they are submitted to the Commission, relying on the trustees to do it which, inevitable they fail to do in lots of cases year after year. Possible because they are not temperementally so inclined by the nature of their 'calling' (but seem to be canny  enough to have parallel trading companies to hide the 5 Series BMW's in) And the Charity Commission couldn't care less.Why does this interest me? Because lots of my tame accountant chums who have the nous to be switched on to financial services and would be in a position to introduce me to the pension selling  opportunities in the charities they would otherwise act for, are excluded. I call that a paradox. But hey, I'm just a fick IFA.

Comments

Fick IFA

jpcc1 | | Permalink

Hmmm, “fick IFA” might be appropriate.

If you read the guidance on the website a little more carefully you’ll see that the Commission does NOT stipulate who can and cannot prepare charity accounts. Anybody can.

What the guidance covers is who can and cannot audit or ‘independently examine’  those accounts. Same as out in the ‘real world’ there are rules about who can or cannot audit limited company accounts.

And the trustees are responsible for submitting their accounts in the same way that directors , not auditors, are responsible for submitting limited company accounts to Companies House.

And there is nothing to stop anyone (whoever prepares the accounts, the auditor or the independent examiner) introducing you. However, the trustees will have to demonstrate any expenditure on the pension scheme is in furtherance of the charity’s objectives and in its interests (not their interests or yours!).

And I think you’ll find that the Commission does care. It has the power to (and does) suspend or remove trustees, appoint new trustees or interim managers, freeze bank accounts and seek restitution of misappropriated funds etc. In addition, although not a prosecuting authority, it works with and refers matters to the police, HMRC, DWP etc.

memyself-eye's picture

Pensions?

memyself-eye | | Permalink

Dream on, few charities opearte a pension scheme, even fewer staff are paid enough to contribute to one.

Charities do have to submit accounts to the CC based on their income and that obligation falls on the trustees not the 'golden circle' of accountants - whatever that is.

Sounds like you have the whole 2kg of McCains on your shoulder.... 

Paul Scholes's picture

Seconded

Paul Scholes | | Permalink

Jpcc1 beat me to it and was far more polite than I was going to be.

My experience of charities is clearly different to yours or do you just read the Daily Mail?  BMWs?  Most of my trustees ride bikes.

If you are frustrated that you can't get access to a market, it may not be somneone else's fault.  C'est la Biz.

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