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Leeds Community Accountant Claire Welling notices changes to the Charity Commission's annual return and muses upon the Commission's role.
The Charity Commission has just amended the Annual Return information which all registered charities with income of over £10,000 must submit each year.
Before you sigh about the extra time and effort to complete the return, think upon the Charity Commissions’s role. They are there to regulate charities, so that ultimately the reputation of all charities is protected. They are also there to advise charities (and there is a wealth of information on their website). So although it may feel cumbersome to complete the annual return and now have to report on:
- trustees payments
- funding raised from the public
- whether the charity has a trading subsidiary
- whether the accounts have been qualified
this information all provides a clearer picture to the public.
As Sam Younger, the Chief Executive of the Charity Commission says:
“The information that charities submit in their annual return helps to support the public trust and confidence in charities, both through increased transparency and by enabling the Commission to better regulate the charity sector.”
I can’t think of a better way of putting it!