International Day of Charity 2020 - Helping those in need
This 5 September marks International Day of Charity, a day to recognise the importance of giving and the positive impact it can have.
The act of giving is a simple one which can have a massively positive effect on those who need it the most.
International Day of Charity was established by the UN in 2012. It “recognizes that eradicating poverty in all its forms and dimensions, including extreme poverty, is the greatest global challenge and an indispensable requirement for sustainable development.”
The date, 5 September, coincides with the anniversary of the death of one of the most dedicated and recognisable individuals to adopt and embody the true meaning of charity: Mother Teresa of Calcutta.
The events of the past eight months or so have put an added strain on the charity sector. The Guardian recently reported that around one in ten UK charities is facing bankruptcy this year due in part to lost fundraising income because of the pandemic.
With that worrying figure in mind, now is a crucial time to recognise and support the work undertaken by charitable organisations and the individuals who support them.
ICAS and its Members are proud to have a long history of being involved in charitable causes. CAs are well placed to assist charities to manage their finances and services, and to strengthen their governance and risk management arrangements
The ICAS Foundation
The ICAS Foundation aims to support academically talented young people from disadvantaged communities to study accountancy or finance-related degrees.
Launched in 2012, The ICAS Foundation is a charitable organisation that makes a difference to academically talented young people by helping them overcome prohibitive financial circumstances and take their first steps towards a career in accountancy or finance. This is achieved through bursary support, a mentoring scheme and internships that add important skills and experience.
Hear from a former Foundation student, Stephen Scurr, who discusses how the support he received helped him on his journey to become a successful entrepreneur. Visit the Foundation’s website to learn more about the Foundation’s work, volunteer as a mentor or make a donation.
The Scottish Chartered Accountants’ Benevolent Association (SCABA) is a charity which supports CAs, their dependants and prospective CAs who are in need. SCABA was founded in 1919 and since then has supported hundreds of Members and their families.
Life-changing events mean that support may be needed for a variety of reasons such as ill-health, redundancy, debt, re-training, etc.
SCABA can help in a number of ways, including the provision of grants, loans and support visits.
ICAS Charities Panel
The ICAS Charities Panel is responsible for representing ICAS on matters impacting the UK charity sector, in relation to:
- public policy;
- law and regulation;
- financial reporting; and
- external scrutiny, encompassing both independent examination and auditing.
It also issues guidance on accountancy related matters to ICAS Members who are involved with charities in a variety of roles including as charity trustees, finance directors and advisers.
Charities update course
As part of ICAS’ Professional Development offering, Members and non-members can benefit from attending an upcoming course which covers hot topics and updates in the charities sector.
This online course will consist of three one-hour webinars hosted by Scott Jeffrey, a member of the ICAS Charities Panel, with a variety of guest speakers. Each will cover different topics and will be held at different times to ensure maximum flexibility for those wanting to attend. The webinars will be a mixture of live presentations and videos, as well as a Q&A session to maximise participation.
You can choose to book all three sessions together or individual sessions.
ICAS provides its Members with ongoing professional support, guidance and resources.
For example, the ICAS Charities Panel recently published guidance on going concern for charity trustees covering reporting and accounting, financial management and external scrutiny considerations.
The guide is for the trustees of UK charities preparing their accounts in accordance with FRS 102 and the Charities SORP (FRS 102), including charitable companies.
To find out more about the guide and what it includes, read our summary.