As the Charity Commission launches a probe into an armed forces charity’s unaccounted funds, RSM UK is reminding trustees of the importance of keeping detailed, up to date records to avoid regulatory action and hefty fines. In this most recent case, auditors were unable to source records to account for £89,000 of expenditure and £151,000 of donations. Charities are advised to follow the recently updated Charity Commission guidance, ‘Internal financial controls for charities’, known as CC8, to ensure finances are properly managed and documented. Nick Sladden, head of charities and…
Read MoreCharity probe highlights need for robust record keeping, says RSM UK
