A charity commission report has found that while three quarters of a sample of charity accounts provided basic information on charitable activities, a quarter of charities failed to provide this information and fell well short of the standard the public should expect.
The main reasons these sets of accounts failed to meet the basic standard were that either the annual report did not explain the charity’s activities to achieve its objectives or that the accounts did not balance or were incomplete.
The Charity Commission has also published templates for completing a charitable company’s accounts by charitable activity for accounting periods beginning on or after 1 January 2015.