If your audits win plaudits, you'll know it's down to some rather smart thinking from your Charity's accountant

No matter your charity’s size it has a duty to ensure the accounts are presented in accordance with the appropriate disclosure requirements of the latest legislation and applicable accounting standards.

At GSM we regard of absolute importance heightened levels of attention to the three 3 R’s of charity accounting - Responsibility, Regulation and Reporting. One underpins the other, yet together they will also underpin your charity’s integrity and at their heart is the integrity of your accounts.

Yet, without an effective financial framework and efficient fiscal tools in place to ensure operational activities are not hampered by regulation, that integrity can be at risk.

So how do you embed such good governance in a charity? Here are some pointers for accounting best practice that will work towards meeting your current and future commitments…

  • recognise regulatory requirements, so reporting is unambiguous, transparent and wholeheartedly behind delivering to the beneficiaries the charity’s work in accordance with its stated aims and ambitions.
  • as a charity you are likely to have several restricted funds you need to monitor. So it is vital that accounting records are well maintained and that your Trustees receive reliable, regular and easy to understand financial information.
  • don’t put unnecessary pressure on your charity with overhead costs but manage these prudently, without compromising on necessary services received from suppliers to deliver your remit.
  • balance the need for long term planning with meeting short term goals by having a well considered reserves policy.

GSM understand these issues and many more, providing accounting solutions that are in your Charity’s best interest not our own. It’s as important to the integrity of your charity’s accounts as it is to our continued good reputation. Another ‘R’ we protect with utmost care. 

So, we give every good cause good reason to review their current accountancy provision in favour of GSM. To gain more guidance from nearly a century of charity sector accountancy expertise, contact GSM today on 020 7935 3793