Small Charities with less than $500k expenses are not required by law to have an audit or review. Smaller charities are governed by their rules (e.g. Trust deed, constitution, or charter) in terms of what their assurance requirements are. Accounting for Charities Trust have a solution for the governance of smaller charities who still want an independent check of systems & procedures without the costly expense of an audit or review – a Finance & Service Performance Warrant of Fitness (“WOF”).
The key benefits of the WOF are:-
- Affordable – more cost effective than audits & reviews
- Timely – deadlines are met
- Independent – WOF checklist and key supporting documentation are independently checked and assessed by our qualified and professional Not for Profit specialists.
- Integrity – The processes used by Accounting for Charity are robust and all WOF assessments by our contractors are subject to independent management overview.
- WOF Report – Attached to Performance Report – provides independent assessment of Performance Report and recommendations for action plans & training requirements.