Hien Le & Co are able to offer independent examinations of small charity accounts and reports, as well as the preparation of these accounts in accordance with provisions of the Company's Act, Charities Act and UK Accounting Standards.
Since April 1st 2009, If your charity's gross income exceeds £25,000 but does not exceed £500,000 in any financial year, then you require an independent examination.
Charity accounts regulations – gross income thresholds
Accounts regulations |
England & Wales |
Audit – irrespective of gross assets (including a group if its combined gross income exceeds the threshold) |
£500,001 or more |
Audit - when gross assets exceed certain thresholds |
£250,001 or more |
Independent Examination (by a person holding an appropriate professional qualification) |
£250,001 to £500,000 |
Independent Examination (by an appropriate person) |
£25,001 to £250,000 |
No independent scrutiny |
Up to £25,000 |
Receipts and payments accounts are allowed |
Up to £250,000 |
Accruals accounts are required (company charities) |
Applicable to all |
If you are under the examination threshold we can offer advice on all aspects of running your charity.
An Independent Examination will include:
Advantages of an independent examination
An independent examination is a simpler form of scrutiny than an audit but it still provides trustees, funders, beneficiaries, stakeholders and the public with an assurance that the accounts of the charity have been reviewed by an independent person. For this reason charities under the examination threshold often opt for early examination.
Get in touch
For a free consultation please contact us to arrange a meeting.