Accounting for Charities 2024
Category: Law & Regulation and Compliance| Date: 01/08/2024 15:30 | Duration: 1 hr | Tag: CHCOIE24S36 | Type: Webinar | Speaker: Lindsay Webber
Course Details
Charity assignments are susceptible to a higher-than-normal risk level due to several factors. One such factor is the requirement to ensure that their accounts are prepared in accordance with an applicable financial reporting framework.
Although the SORP is not mandatory for charities in Ireland, many are choosing to prepare their financial statements in accordance with the SORP, either as best practice or at the request of other stakeholders.
In this session, we will recap the thresholds for both preparing accounts and having those audited, including the proposals of the new Charities (Amendment) Bill 2023. We will also cover some of the key considerations when applying SORP, looking at some common problem areas. With both FRS 102 and the SORP undergoing review, we will also look at what lies ahead for charity accounting, and what changes we might see over the next few years.
The session will include:
- A recap of the requirements to prepare accounts and have them audited, including the proposals under the Charities (Amendment) Bill 2023;
- Selecting an appropriate accounting framework;
- Key accounting issues for charities applying the SORP; and
- The future of financial reporting for charities.
This intermediate-level session is suitable for accountants who assist clients with the preparation of statutory financial statements under charity legislation, and for auditors who review those financial statements.
Course level: Intermediate
CPD Course Speaker
OmniPro
Lindsay Webber
As a member of our Practice Support team, Lindsay’s focus is on helping practices achieve on-going best practice compliance, providing in-house training, technical assistance, and file reviews.
Lindsay is a member of the South African Institute of Chartered Accountants and Chartered Accountants Ireland. She trained with KPMG in Johannesburg and specialised in external audit of financial services companies. She then spent six years lecturing audit and financial reporting to under-grad and post-grad students at Rhodes University in South Africa before moving to Ireland and returning to practice in a small, and then a medium sized firm where she was an audit manager. Altogether, she has over six years external audit experience along with over six years academic experience specialising in Audit and Financial Accounting. She is passionate about combining her academic and practice backgrounds to provide technical information in a useful and practical way.
Outside of her accounting qualifications Lindsay holds a PGDiploma in Higher Education from Rhodes University and graduated with distinction from the MBA course at Trinity College Dublin. She is currently working towards a Diploma in Forensic Accounting through Chartered Accountants Ireland.
Lindsay is a member of the South African Institute of Chartered Accountants and Chartered Accountants Ireland. She trained with KPMG in Johannesburg and specialised in external audit of financial services companies. She then spent six years lecturing audit and financial reporting to under-grad and post-grad students at Rhodes University in South Africa before moving to Ireland and returning to practice in a small, and then a medium sized firm where she was an audit manager. Altogether, she has over six years external audit experience along with over six years academic experience specialising in Audit and Financial Accounting. She is passionate about combining her academic and practice backgrounds to provide technical information in a useful and practical way.
Outside of her accounting qualifications Lindsay holds a PGDiploma in Higher Education from Rhodes University and graduated with distinction from the MBA course at Trinity College Dublin. She is currently working towards a Diploma in Forensic Accounting through Chartered Accountants Ireland.