Accounting for change in the charity sector
One thing is certain for organisations operating in the charity sector – change is here to stay.
From changes to auditing and amendments to accounting requirements, to preparing for a new Charities SORP: change is here and there’s more on the horizon.
Helping you prepare for change
Keeping one step ahead of the many developments in the sector can be a challenge. This year’s ICAS Charities Update course is designed to help you understand the latest developments, whether you’re involved with charities as a trustee, or advising charities in a professional capacity, there is plenty happening that you need to be aware of.
The ICAS Charities Update course still has places available:
The ICAS Charities Update course
This year the ICAS Charities Update course has seen changes of its own. These include new presenters, new extended course times, some new venues and a change in format, making the course more interactive. This is my first year as the main presenter for the course.
Audit is under the spotlight like never before, and it is therefore imperative that lessons can be learned wherever possible. Quality is at the heart of rebuilding trust in the audit process, and this course highlights changes that auditors need to be aware of. There have also been changes to accounting standards that apply to charities, as well as plans for a new Charities SORP. We will discuss what changes apply now, as well as those expected to apply in the near future.
Applying best practice and good governance should always be high on the agenda of charity trustees. Effective governance requires effective leadership amongst other things. Our presenters will provide insights into what this actually means in practice, offering “food for thought” for those charged with governance and others with an interest in the sector.
This year our course also covers impact reporting – a “hot topic” for the sector. Publicising the many benefits that a charity makes provides a golden opportunity for a charity to communicate to a wide audience including donors, funders and volunteers. It is generally felt that more can be done to maximise the potential of charities to help them shape their message, with the many benefits this can bring. This year’s course will discuss ways to maximise your impact through reporting.
Legal aspects of winding up a charity
For one reason or another, trustees may come to the conclusion that the circumstances require a charity to be wound up. Such a decision should never be made without careful consideration and adequate planning, given the various compliance matters to be aware of. How do you wind up a charity? Who needs to be notified? What legal responsibilities do trustees have during the process? Answers to these questions and many more will all be up for discussion.
Charities should never underestimate the complexities of VAT and the challenges that can arise for organisations operating in the wider Third Sector. There will be a discussion on a variety of VAT issues that can potentially impact a charity, as well as explorations of the outcomes of recent VAT cases as examples of issues in practice.