The Charity Commission, who regulate the charity sector, revealed on Thursday that only around half of charities meet the standards required for external scrutiny and they will be now applying a benchmarkfor basic scrutiny.
It called the findings “concerning”, with failings including incomplete reporting of transactions to auditors and saying it “raises additional concerns that the failure by trustees to manage conflicts of interest is also being under-reported.”
Trustees of registered charities are required to have an external scrutiny of their accounts if they have a gross annual income of over £25,000 in the financial year. The external scrutiny must be either an independent examination or an audit.
The charity Stewardship encourages giving among believers to Christian causes and help churches monitor their finances.
Stewardship’s chief generosity officer, Daniel Jones, told Premier’s News Hour the Charity Commission’s worries were “a timely reminder for both churches and charities that it’s important to make sure we know where our money is going to.
“But also for donors, to say ‘do I know where my money is going to and, if I want to know more about where my money is going to, how can I go and find out more about what the charity or church is doing with with the money that I give?'”
Other problems common among low income organisations were incorrectly labelled…
… Read More
—
Click Read More to read the rest of the story from our content source/partners – Premier Christianity News.