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Webinar: the state of charity financial reporting

Paul Rao Paul Rao

On 21 May 2020, over 100 finance professionals attended our webinar on the charity financial reporting ramifications of COVID-19. Watch the recording below to find out how to apply these considerations during the busy audit season.

Charities across the country are now working in an environment completely different to the one they were in just months ago. There are many accounting ramifications that charities will need to carefully consider when preparing the Trustees’ Annual Reports and financial statements this year.

In the video above, our sector specialists, along with John Tranter, Charity Director, took our audience through some of the financial reporting challenges, sharing some sector insights, highlighting key considerations for preparers and providing practical guidance on the financial reporting ramifications of COVID-19 on the sector.

Specific areas covered in our webinar included:

  • Trustees’ Annual Reports, including principal risks and uncertainties
  • Significant judgments and estimates
  • Going concern and reserves, including liquidity and forecasting
  • Income recognition
  • Grant commitments and liabilities
  • Impairment indicators and assessment
  • Gift Aid accounting
  • Government grant accounting for various support schemes
  • Potential impact on audit work and auditor opinions

COVID-19 and charity sector financial reporting Find out more

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