The role of the charity sector in society has rarely been considered more important. Despite this, charities are faced with unique financial challenges.
Unlike the commercial sector, whose primary focus is often maximisation of profit, a charity’s key purpose is to maximise the public benefit from limited resources. This invariably manifests itself in a need for strong budgetary controls and processes.
Paradoxically, the charity sector is subjected to more public scrutiny and is more heavily regulated than most other sectors in the UK. All registered charities in England are responsible to the Charity Commission
and they are also answerable to a range of stakeholders including donors and beneficiaries.
As a consequence, even the smallest charities need to demonstrate that they have robust financial management, that they are operating in accordance with their objectives and that they are maximising their public benefit from resources.
We have extensive experience of supporting charitable organisations in their efforts to pursue these goals, including:
- Review, recommend and implement improvements in accounting processes
- Assistance with financial reporting
- Formulation of proper (and realistic) financial budgets
- Design and implementation of financial controls and reporting structures to monitor and report performance against budgets
- Assistance with VAT planning
If you are a trustee or director of a registered charity and you would like to discuss how we might be able to assist you, please contact us
to arrange a no obligation initial meeting.