Charity Commission new reporting requirements
Charity Commission to launch consultation on new Charity Reporting Requirements in the autumn
The Charity Commission for Northern lreland has announced its plans to launch a public consultation, in the autumn of 2013, on its interim reporting proposals for all registered charities.
Speaking at the Investec charity seminar in Belfast today, the Commission’s Chief Executive, Frances McCandless, revealed that the Commission will open a Charity Reporting Requirements Consultation in early October.
Frances explained: “It will be compulsory for all charities operating in Northern Ireland to apply for registration after the Commission begins the full registration process later this year.
“Once registered with us, and as part of our regulation and monitoring of the sector, all charities will have to complete an annual return, including their annual accounts and reports, and submit these documents to the Commission for inspection.
“In preparation for this, we are currently developing interim proposals for the monitoring of charity annual returns and accounts.
“We will open a public consultation on these proposals in early October to encourage anyone involved or interested in the work of charities to share their views on the proposals and help shape the final policy.”
The Commission’s interim annual reporting requirement is designed to obtain key information on charities’ governance, finances and activities to enable the Commission to carry out its regulatory and monitoring work.
To make the process for registration and regulation as accessible and smooth as possible, the reporting requirements for all newly registered charities in Northern Ireland will be introduced on a phased basis.
Under the interim proposals, which the Commission will consult on in the autumn, charities will be required to provide their accounts and reports in the format they currently prepare them.
This will change in the future when new accounting and reporting legislation comes into effect, with charities required to prepare their accounts and provide external scrutiny reports as laid out in the legislation.
The Commission will hold a further public consultation in 2014 on the format, structure and content of the full accounting and reporting requirements, before the requirements come into effect.
For more information please contact Shirley Kernan, Charity Commission for Northern Ireland Communications Officer, on tel: 028 3832 0169, mobile: 07827338978 or email: firstname.lastname@example.org
The Charity Commission for Northern Ireland is the independent regulator of charities in Northern Ireland. It was established under the Charities Act (Northern Ireland) 2008 (the Act).
The Act states that the Commission must keep a publicly accessible register of all charities in Northern Ireland. This register, which will be the first of its kind for Northern Ireland, will provide a way for everyone to find out more about charities, as well as increasing transparency and enhancing public trust and confidence in charities.