Section 144 Audit of accounts of larger charitiesC1

(1)

Subsection (2) applies to a financial year of a charity if—

(a)

the charity's gross income in that year exceeds F1£1.5 million, or

(b)

the charity's gross income in that year exceeds the accounts threshold and at the end of the year the aggregate value of its assets (before deduction of liabilities) exceeds F2£5 million.

“The accounts threshold” means the sum for the time being specified in section 133 (account and statement an option for lower-income charities).

(2)

If this subsection applies to a financial year of a charity, the accounts of the charity for that year must be audited by a person who—

(a)

is eligible for appointment as a statutory auditor under Part 42 of the Companies Act 2006, or

(b)

is a member of a body for the time being specified in regulations under section 154 and is under the rules of that body eligible for appointment as auditor of the charity.

Annotations

Textual amendments

F1: Sum in s. 144(1)(a) substituted (30.9.2026) by The Charities Acts 1992 and 2011 (Substitution of Sums) Order 2026 (S.I. 2026/427), arts. 1(1), 3(4)(a) (with art. 5(6))
F2: Sum in s. 144(1)(b) substituted (30.9.2026) by The Charities Acts 1992 and 2011 (Substitution of Sums) Order 2026 (S.I. 2026/427), arts. 1(1), 3(4)(b) (with art. 5(6))

Modifications

C1: S. 144 applied (1.1.2018) by The Charitable Incorporated Organisations (Conversion) Regulations 2017 (S.I. 2017/1232), regs. 1(1), 14