Services to Charities and Not-for-Profits
Charities have their own challenges, and in the current climate, management and staff must be extremely diligent in their work. The continued activation of the Charities Act 2009 means that the regulatory duties attaching to charities is increasing rapidly.
The Charities Regulatory Authority will be managing regulatory oversight in the charities sector. In addition, any charity which is incorporated In Ireland is already subject to requirements under the Companies Acts and will continue to be subject to the requirements.
BizWise provides the following services to charities:
- Companies Registration Office returns
- Returns to the Charities Regulator:
- Where gross income is less than €100,000 in a financial year, the organistation must prepare a statement of accounts
- If the gross income is greater €100,000, a charity can prepare an income & expenditure account and a statement of assets & liabilities instead
- Charities with an income of more than €100,000 an audit requirement has been prescribed
- Where charity is not obliged to audit its accounts, the charity must either elect to have its accounts examined by an independent person or to have the accounts audited
- Management accounts and financial reporting
- Strategic reviews and planning
- Advice on viability and restructuring
- Internal control procedures, and risk management
- Reserves policy and accounting for separate funds
- Setting-up a new organisation: regulatory, taxation, and governance issues
- Employment issues, taxation, the engagement of workers and working with volunteers
The charity and social enterprise sectors are rapidly changing landscapes, and are bound by more regulatory and compliance requirements than most. Our team of charity and social enterprise accountants has the experience and expertise to fully understand the complex and regulatory accounting needs of your charity or social enterprise.