Charity audits are high risk, as has been shown in the recent news story about the disciplinary action against the auditors to the former charity Console.
Auditors have always been expected to have relevant knowledge corresponding to the task in hand and it’s important to have a clear understanding of the key risks involved in auditing a charity, especially because various donor agencies such as the HSE, Tusla and Pobal, to name just a few, have high expectations of what auditors can deliver.
One of the criticisms in the 2017 CRA report on Ataxia Ireland was that it ‘did not set formal objectives for the CEO and/or perform a documented appraisal of the CEO’s performance.
One of the webinars on our site helps auditors to gather their thoughts and plan an effective audit, pinpointing the likely areas of risk including:
- Failure to report related party transactions
- Incomplete income due to failure to invoice for services rendered or records invoice issued
- Non-receipt of income due from funder
- Misapplication of restricted funds
For the answer to this and other questions on the Audit of Charities, go to our website and download the webinar on this topic for just €45. On successful completion, receive a CPD certificate for your newly acquired knowledge. Well done!
There is an accompanying webinar on the Accounting for Charities – also for €45, or you may purchase the two at the same time for €80.
All our webinars are accessible at any time (for 12 months from date of purchase) here.
For the following ready to use charity engagement letters (in Word) available to purchase online (bulk discounts for purchases of 5 or more at the same time) please click on the relevant links: