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The Charities Act 2011 (Accounts and Audit) Order 2015

S.I. 2015/321 · Made 19 February 2015

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Charities

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 2011f1

Annotations to the whole text

Footnotes

f1

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

Contents

  1. 1Citation and commencement
  2. 2Amendments to the Charities Act 2011
  3. 3Amendments to the Charities Act 2011
  4. 4Amendments to the Charities Act 2011
  5. 5Transitional provision
  6. Signature
  7. Explanatory note

1Citation and commencement

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

2Amendments to the Charities Act 2011

The Charities Act 2011 is amended as follows.

3Amendments to the Charities Act 2011

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

4Amendments to the Charities Act 2011

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

“(k)

the Institute of Financial Accountants;

(l)

the Certified Public Accountants Association.”

5Transitional provision

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

Signature

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.