The Charities Act 2011 (Accounts and Audit) Order 2015

Statutory Instruments

2015 No. 321

Charities

The Charities Act 2011 (Accounts and Audit) Order 2015

Made

19th February 2015

Laid before Parliament

23rd February 2015

Coming into force

31st March 2015

The Minister for the Cabinet Office makes the following Order in exercise of the powers conferred by sections 145(6)(b), 174(1) and 347(3)(b) of the Charities Act 2011(1)

Citation and commencement

1.  This Order may be cited as the Charities Act 2011 (Accounts and Audit) Order 2015 and comes into force on 31st March 2015.

Amendments to the Charities Act 2011

2.  The Charities Act 2011 is amended as follows.

3.  In section 144(1)(a) (audit of accounts of larger charities) for “£500,000” substitute “£1 million”.

4.  After section 145(4)(j) (examination of accounts etc), insert—

“(k) the Institute of Financial Accountants;

(l) the Certified Public Accountants Association.”

Transitional provision

5.  This Order applies in relation to any financial year of a charity ending on or after 31st March 2015.

Rob Wilson

Parliamentary Secretary

Cabinet Office

19th February 2015

EXPLANATORY NOTE

(This note is not part of the Order)

This Order amends provisions in the Charities Act 2011 relating to charities’ accounts by substituting the sums specified in the Order. The Order also amends provisions in the Act relating to the examination of accounts.

The effect of article 3 is to increase the gross income threshold which applies for the purpose of determining whether a charity is required to have its accounts audited.

The effect of article 4 is to add two new bodies to the list of bodies whose members may examine the accounts of certain lower-income charities.

Article 5 makes transitional provision.

A full impact assessment of the effect that this Order will have on the costs of business and the voluntary sector is available from the Office for Civil Society, 1 Horse Guards Road, London. SW1A 2HQ (020 7271 6282) and is annexed to the Explanatory Memorandum which is available alongside the Order on www.legislation.gov.uk.

(1)

2011 c.25. Section 353(1) defines “the Minister” as the Minister for the Cabinet Office.