Charity Accounts & Independent Examination
Running a charity involves far more than delivering charitable activities. Trustees are responsible for ensuring the charity meets its financial reporting obligations, maintains accurate accounting records and complies with the requirements of the Charity Commission and HMRC.
Whether you’re preparing your annual accounts, meeting Charity Commission filing requirements or arranging an independent examination, at RAIMS Chartered Certified Accountants we provide practical advice that helps your charity meet its reporting obligations with clarity, confidence and professionalism.
Every Charity Has a Responsibility to Demonstrate Accountability
Strong financial reporting is about more than regulatory compliance. Trustees, donors, funding bodies, beneficiaries and regulators all rely on accurate financial information to understand how charitable funds are managed and whether resources are being used effectively. Preparing compliant accounts and meeting reporting obligations helps strengthen transparency, support good governance and reinforce public confidence in your charity’s work.
As reporting requirements continue to evolve, obtaining professional advice can help trustees fulfil their legal responsibilities while allowing them to remain focused on delivering the charity’s objectives.
Expert Charity Services
Effective financial reporting is fundamental to good charity governance. Our services help charities meet their financial reporting obligations accurately, efficiently and in accordance with current regulatory requirements.
Charity Accounts
Preparation of charity accounts that comply with the relevant financial reporting framework and accurately reflect the charity's financial activities.
Independent Examination
Independent examination services for eligible charities, providing an objective review of the charity's financial records where a statutory audit is not required.
Charity Commission Reporting
Preparation and submission of annual accounts, trustees' reports and annual returns to help meet Charity Commission filing requirements.
SORP Compliance
Financial statements prepared in accordance with the Charities Statement of Recommended Practice (SORP), where applicable.
Trustees' Annual Reports
Preparation and review of trustees' reports that clearly communicate the charity's objectives, activities and financial performance.
Gift Aid & HMRC
Advice on Gift Aid claims and other HMRC reporting obligations relevant to charitable organisations.
Supporting Charities at Every Stage
Every charity has different objectives, reporting requirements and governance responsibilities. We provide tailored support for charities at every stage of their development.
New Charities
Helping newly established charities build strong financial foundations and understand their ongoing reporting responsibilities from the outset.
Growing Charities
As charities grow, increasing income, funding and operational activities often create additional reporting and governance requirements.
Established Charities
Ongoing accounting and independent examination services that support long-term compliance, effective financial management and good governance.
Charitable Incorporated Organisations (CIOs)
Professional support tailored to the reporting and governance requirements of Charitable Incorporated Organisations.
Charitable Companies
Helping charitable companies meet both Charity Commission and Companies House reporting obligations.
Grant-Funded Organisations
Reliable financial reporting that helps satisfy funders’ requirements while demonstrating accountability and good financial stewardship.
Why Charities Choose RAIMS Accountants
Choosing the right adviser is about more than technical expertise. Trustees value accountants who understand the unique responsibilities of the charity sector, communicate clearly and provide dependable support throughout the year.
- Charity Sector Expertise
Extensive experience in charity accounting, independent examination and regulatory reporting enables us to provide advice tailored to the unique needs of charitable organisations.
- Independent Examination You Can Rely On
Independent examinations are carried out with professionalism, objectivity and attention to detail, giving trustees greater confidence in their charity’s financial reporting.
- Practical Advice for Trustees
Complex financial reporting requirements explained in straightforward language, helping trustees make informed decisions with confidence.
- A Proactive Approach to Compliance
From Charity Commission filing requirements to SORP and HMRC obligations, we help charities stay ahead of important deadlines and changing regulatory requirements.
- Transparent Fixed Fees
Clear, upfront pricing agreed before work begins, helping trustees budget with confidence and avoid unexpected costs.
- Responsive, Personal Support
Questions don’t always arise at year-end. Whether by phone, email or WhatsApp, we’re available throughout the year whenever guidance or clarification is needed.
- Long-Term Partnership
Frequently Asked Questions
What is an independent examination of charity accounts?
An independent examination is a review of a charity’s accounts carried out by an independent person. It provides trustees with assurance that the accounts have been properly prepared and comply with the relevant charity reporting requirements, without the more extensive procedures involved in a statutory audit.
Is an independent examination a legal requirement?
Whether an independent examination is required depends on your charity’s income, gross assets and legal structure. We can advise whether your charity requires an independent examination or a statutory audit.
Does my charity need an independent examination?
Many charities are required to have an independent examination once they reach certain income thresholds. Whether your charity needs an independent examination or a statutory audit depends on its income, assets and legal structure.
What is the difference between an independent examination and a charity audit?
An independent examination provides limited assurance by reviewing the charity’s accounts and records, whereas a statutory audit involves more detailed testing and provides a higher level of assurance. Many smaller charities qualify for an independent examination instead of a full audit.
Which types of charities do you support?
We provide charity accounts and independent examination services for charitable incorporated organisations (CIOs), charitable companies, charitable trusts, community organisations, religious charities and other not-for-profit organisations across the UK.
What information do you need to prepare charity accounts?
We typically require bookkeeping records, bank statements, income and expenditure details, grant information, payroll records (where applicable), asset information and any previous year’s accounts.
Do charity trustees remain responsible for the accounts?
Yes. Trustees are responsible for maintaining proper accounting records and approving the annual accounts. Our role is to prepare the accounts and carry out the independent examination in accordance with the applicable regulations.
Can you prepare the annual charity accounts as well as carry out the independent examination?
Yes. We can prepare your charity’s annual accounts and perform the independent examination where appropriate, providing a complete year-end service to help you meet your reporting obligations.
What accounting standards do charity accounts follow?
Charity accounts are prepared in accordance with the relevant charity legislation and the Charities Statement of Recommended Practice (Charities SORP), where applicable.
When do charity accounts need to be filed?
Charity accounts should be prepared after the end of each financial year and submitted within the deadlines set by the relevant charity regulator and, where applicable, Companies House.
How much does an independent examination cost?
The cost depends on the size of your charity, the quality of your bookkeeping and the complexity of your financial records. We provide fixed-fee quotations with no hidden charges.
Can you help if our charity's accounts are overdue?
Yes. We regularly help charities bring their accounts up to date and meet overdue filing obligations. Contact us as early as possible so we can advise on the best course of action.
Do you work with charities across the UK?
Yes. We provide charity accounting and independent examination services to charities throughout the UK using secure cloud accounting, email, phone and video meetings.
Can you help new charities with their first set of accounts?
Yes. Whether your charity is newly registered or preparing its first annual accounts, we can guide you through the reporting requirements and ensure everything is prepared correctly.
Can you advise on charity bookkeeping and record keeping?
Yes. Good bookkeeping makes year-end reporting much easier. We can advise on suitable accounting systems, record keeping and financial processes to help your charity stay compliant throughout the year.
Can an accountant also act as an independent examiner?
Yes. Subject to the relevant charity regulations and independence requirements, a suitably qualified accountant can prepare charity accounts and carry out an independent examination where appropriate.
Whether you’re preparing your first year-end accounts or looking for a trusted independent examiner, we’re here to provide clear advice and dependable support tailored to your charity’s needs.
Book a free consultation to discuss your charity’s requirements and discover how RAIMS Accountants can support your organisation with practical, dependable advice.