Charity Social Audit Services in the United Kingdom
Improve the performance of your non-profit organisation with 3E Accounting’s quick read on charity social audit services in the UK.
Generally, audits are scrutiny of a business’ financial statements and record to ensure that they present a true and fair view of the accounts. Social audits, on the other hand, extend the scrutiny to encompass all aspects of social responsibility. Audits can be statutory or non-statutory, and ideally, all companies should get an audit done. This is especially true for charities and social enterprises. Engaging charity social audit services in the UK will ensure that goals remain achievable while enhancing efficacy.
A True and Fair View of Codes of Conduct
Charities, non-profit organisations, and social enterprises are an essential part of any civilised society. They are beacons of hope that provide relief, support and vital aid to those in need. In turn, these organisations rely heavily on donors, funders and grant-providing entities to carry out their good works. To ensure that such stakeholders remain steadfast and confident, social audits, voluntary or statutory, are necessary.
Social audits are formal assessments of how such organisations meet and achieve their financial goals and social responsibility. Audits for charities must be done in the following instances:
- The charity has an income above GBP1 million, or income over GBP250,000 with assets above GBP3.26 million, as per the 2015 amendments to the Charities Law.
- An audit is expressly required from a donor or funder or the trustees.
- The requirement for an audit is expressly provided for in the charity’s constitutional documents.
- The Charities Commission has specifically requested an audit.
Where these instances do not arise, it is still advisable to get a social audit done for a charity or non-profit organisation. Not only do they sustain stakeholder confidence, but also safeguard an organisation’s reputation and credibility. They provide assurances of proper management and governance.
Social audits are benchmarks that analyse, evaluate and measure an organisation’s controls, systems and operations. Firms such as 3E Accounting associate provide highly skilled auditors capable of providing customisable and innovative solutions that can improve efficacy. This applies to both the financial aspect, including funds and grants, as well as social and ethical facets.
An independent external audit can expose fraud, accounting and operational pitfalls, as well as professional negligence. Solutions and improvements can then be proposed and implemented to ensure a sound framework. An experienced auditor will also be able to advise on cost-saving measures, especially on tax matters.
Charities, in particular, need to establish that their code of conduct is beyond reproach. Social audits focusing on internal compliance, human resource, and due diligence all add towards a charity’s credibility and corporate responsibility.
Choosing a firm such as 3E Accounting gives you access to professionals who specialise in providing customisable business solutions. Our associate charity social audit services in the UK employs the best of local resources and global talent. We provide assurance and add value to all our solutions to ensure continuous best practice. Contact 3E Accounting today and speak to our team of specialists on assuring compliance and impeccable code of conduct.