Does your charity require an audit?

Answer these simple questions and decide if you require an audit or independent examination

When does your charity require an audit?

1. Does your Gross Income for the year exceed £1,000,000?

2. Does your Gross Income exceed £250,000 and Gross Assets exceed £3,260,000?

3. Do the trustees wish to have the financial statements audited?

4. Does the charity’s governing document require an audit?

5. Is an audit required by the Charity Commission or a funder?

If the answers to any of the above questions is YES an audit is required.
When does your charity require an independent examination?

Your answer to all of the above questions should be NO.

1. Is your Gross Income for the year between £25,001 and £1,000,000?

2. Do the trustees wish to have the financial statements independently examined?

3. Does the charity’s governing document require an independent examination?

4. Is an independent examination required by a funder?

If the answers to any of the above questions is YES an independent examination is required.
For more information on the requirements click here