What we do
We are external auditors to over 400 charities and social purpose organisations.
The charity and social purpose sector is hugely diverse. As a result, we understand a broad range of different business models from grant-making to humanitarian relief, from professional bodies to social care providers. Some meet the traditional model of a ‘voluntary’ organisation while others work to a very commercial business model such as government contracting or retail operations.
Why we do it
Auditing charities gives auditing real purpose. We ensure that funds are used for charitable purposes.
Charities are subject to greater scrutiny than non-charities. And so they should be. They receive donations and grants and are entrusted to use them to deliver social impact. Assuming they spend these funds on charitable purposes, charities are exempt from corporation tax. As a result, a charity with income of over £1m requires a full audit. The equivalent for a commercial company is £10m. And the transparency requirements of a charity set of accounts are more akin to that of a FTSE 100 company than a small business.
What our clients say
As our auditors for the last four years, Sayer Vincent have continually both challenged us and supported us to improve as an organisation. The SV team have used their experience of charities to provide us with constructive recommendations to make us more effective. This has included aspects of our governance, partnership working, compliance and financial reporting