CHARITY COMMISSION WARNING OVER REPORTING OF NET CURRENT LIABILITIES

摘要

The Charity Commission has issued a warning that some charities fail to explain adequately how they are dealing with financial risks, after research showed that nearly half of the charities with net current liabilities did not discuss the issue in their financial reports. A Charity Commission accounts monitoring review identified 1,348 charities whose accounts reported a net current liability position and then randomly selected 98 of those for a more detailed follow-up. Of the 98 accounts reviewed, 42 charities did not discuss the net current liabilities issue in the Trustees' Annual Report (TAR). The Charity Commission says as a result 'they missed the opportunity to explain to funders and stakeholders how they were managing the risk'. Another accounts monitoring review, of charities with pension scheme deficits, produced a similar finding.