Increase limit for when charities must have an independent review of accounts

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Increase limit for when charities must have an independent review of accounts

Petition Details

I am involved with a charity which makes approximately £25-£30k per year, meaning we must have an independent review. This cost us £2500 this year, which seems a disproportionately high percentage of our income. Increasing the limit to £50k could help charities give more to the causes we support.

Additional Information

According to gov.uk, there were approximately 58 thousand charities in the UK with income between £10k and £100k. If we assume that these are evenly distributed across the range, around 16000 charities would benefit. If their costs are similar to ours, that would be an extra £45k going to good cause each year. While transparency is important, people give to small charities assuming the money goes to the cause they promote and 10% going to an auditor does not serve their expectations well.

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