The requirement for charities to have an audit under the relevant rules has recently changed so that an audit (rather than an independent examination) of charity accounts is only now required for charities with an income over £1 million or for smaller charities with an income over £250,000 where they have assets over £3.26 million.
However, beware if your governing document specifies an audit then your charity will still need to have one. You should therefore check the requirements of your governing document and consider whether you wish to seek to change the requirement in the governing document to allow you to take it within the current regulatory regime rather than imposing more onerous obligations upon you.
Our charities team offer practical legal advice and assistance to help keep your charity compliant, agile and on track. If you would like more advice on dealing with any of the matters raised in the guidance get in touch 01726 74433 or email charities@stephens-scown.co.uk