Accountancy Age, Accountancy Age, Thursday 1 July 2010 at 12:31:00

Charities fulfilling only basic regulatory requirements


Charities are not making enough use of their annual reports according to aDeloitte report.

The Big Four firm reviewed a range of charity annual reports and found thatmost only fulfil the basic regulator requirements.

Mary Reilly, Deloitte partner and head of the firm?s third sector practicesaid charities needed to do more to communicate to donors and otherstakeholders.

?The annual report is an ideal opportunity ? It is the first port of call fora range of stakeholders looking for detailed information about the purpose ofthe charity, what it has achieved and its plans for the future.?

The report found that while almost half said they used volunteers, of thesefour out of ten included no quantification about the assistance given byvolunteers.

Further reading:

Surveyingthe Sector

HMRC'sHartnett backs charity's call for international tax changes