Audit Accounting and Reporting changes - Impact Assessmen…

Charities Act 2006: Changes to the Accounting and Reporting Framework for charities Draft Regulatory Impact Assessment 2 Charities Act 2006: Changes to the accounting and reporting framework for charities Draft Regulatory Impact Assessment Draft Charities Act 2006 (Amendments reflecting changes in Company Law Audit Provisions) Order 2007 & Draft Charities (Accounts and Reports) Regulations 2007 PARTIAL REGULATORY IMPACT ASSESSMENT for Charities in England and Wales (other than investment fund charities) June 20073 Charities Act 2006: Changes to the accounting and reporting framework for charities Draft Regulatory Impact Assessment Paragraph Contents Proposals 1 Purpose and intended effect of measures 2 The preparation and audit of group accounts and the 2.1content of group annual reports External scrutiny of small company charities’ accounts 2.2 Reporting public benefit in trustees’ annual reports 2.3 Devolution 3 The background 4 The framework of group accounts 4.1 Threshold for preparation and audit of group accounts 4.2 Trustees’ annual report – group accounts 4.3 External scrutiny of small company charities’ accounts 4.4 Reporting public benefit in trustees’ annual reports 4.5 Risk assessment 5 The preparation and audit of group accounts and the content of group annual reports 5.1 External scrutiny of small company charities’ accounts 5.2 Reporting public ...