News

Charity audit threshold to rise

The government published its response to the consultation on charity audit and independent examination on 19 February 2015. The headline news included:

  • the charity audit income threshold will rise to
    £1 million (from £500k)
  • the group accounts preparation and audit income threshold will also rise to £1 million
  • asset thresholds will stay the same.

The changes are expected to be effective for accounting periods ending on or after 31 March 2015, although this is subject to parliamentary process. A draft Statutory Instrument setting out the changes, which will apply in England and Wales, will be drafted and laid in Parliament before dissolution on
30 March 2015.

For further details please contact Jane Marshall jane.marshall@bhp.co.uk