In England and Wales, the requirements for independent examination depend on a charity’s annual income:
- £40,000 or less: no statutory independent examination or audit is required, unless the governing document or a funding agreement requires one.
- Over £40,000 up to £1.5m: the charity can generally choose an independent examination or audit, subject to its governing document/funding arrangements.
- Over £500,000 up to £1.5m: if the charity chooses an independent examination, the examiner must be a member of a body recognised by the Charities Act 2011.
- Over £1.5m: an audit is required.
- An audit is also required if income exceeds £500,000 and gross assets exceed £5m.
Why choose Burton Sweet to carry out your independent examination?
An independent examination undertaken by one of the Burton Sweet Charities Team offers the bedrock of confidence, so you can meet the needs of your funders, donors, beneficiaries and wider public. We know the Charity Commission’s Directions inside out and can apply our thorough understanding of the sector to ensure a robust examination.
If you would like to better understand the ins and outs of an independent examination, check out the Charity Commission’s helpful guide for trustees.
At Burton Sweet, we pride ourselves on building a full understanding of the charities we work with and what they need from us. With our sector specialism, our team can provide the rigour and insight that you need to ensure your reports and accounts tell your story well, following best practice reporting and meet evolving requirements.
If you would like to discuss independent examinations with us, or receive a quote, please contact us to enquire…
