CPDStore Ireland

A charity is an organisation whose primary objective is to complete actions for public benefit. 

They are funded by members of the public who make voluntary donations and they are indirectly funded by the taxpayer since they often receive government grants.

The money given to charities is given in the good faith, that the money will be used for public benefit.

There are so many Charities across Ireland providing supports to families and children who rely on the voluntary generosity of the public. The work of Charities is vital to all sectors of society. Therefore, maintaining public support for Charities is significant priority of those in government especially now with inflation, rising interest rates and a looming recession.

In the last year, some Charities have been the target of fraudsters or criminals to put it plainly. This may increase in the coming year and the criminals will become more sophisticated in their method of attack.

It is for the above reasons that the Charities Regulating Authority (CRA) and the Institutes are paying closer attention to the Filings of Charities and the Audits of Charities.

On 07/11/2018 the Charities Governance Code (CGC) was launched by the CRA.

2021 was the first year that Charities were expected to report on their compliance with the Charities Governance Code (CGC). 

Now in 2022, Auditors are facing situations where the Charities they are auditing have only partially complied with the CGC or have not even started implementing the CGC.  

In this session, Colm Owens and Elaine Jackson cover the following:

• How to address Fraud under ISA(Ireland) 240 (revised October 2021) 
• The relevant Laws & Regulations to be considered at both planning and completion
• The impact that non-compliance with the CGC may have on the Financial Statements
• Completeness of Income; Testing; Documentation/Evidence and Walk-Through Testing
• How to address Going Concern under ISA(Ireland) 570 (revised October 2019)