uksi/2015/321 — The Charities Act 2011 (Accounts and Audit) Order 2015

2015 No. 321 Charities The Charities Act 2011 (Accounts and Audit) Order 2015 Made 19th February 2015 Laid before Parliament 23rd February 2015 Coming into force 31st March 2015 The Minister for the Cabinet Office makes the following Order in exercise of the powers conferred by sections 145(6)(b), 174(1) and 347(3)(b) of the Charities Act 2011 Citation and commencement 1 This Order may be cited as the Charities Act 2011 (Accounts and Audit) Order 2015 and comes into force on 31st March 2015. Amendments to the Charities Act 2011 2 The Charities Act 2011 is amended as follows. 3 In section 144(1)(a) (audit of accounts of larger charities) for “£500,000” substitute “£1 million”. 4 After section 145(4)(j) (examination of accounts etc ), insert— k the Institute of Financial Accountants; l the Certified Public Accountants Association. Transitional provision 5 This Order applies in relation to any financial year of a charity ending on or after 31st March 2015. Rob Wilson Parliamentary Secretary Cabinet Office 19th February 2015 EXPLANATORY NOTE (This note is not part of the Order) This Order amends provisions in the Charities Act 2011 relating to charities’ accounts by substituting the sums specified in the Order. The Order also amends provisions in the Act relating to the examination of accounts. The effect of article 3 is to increase the gross income threshold which applies for the purpose of determining whether a charity is required to have its accounts audited. The effect of article 4 is to add two new bodies to the list of bodies whose members may examine the accounts of certain lower-income charities. Article 5 makes transitional provision. A full impact assessment of the effect that this Order will have on the costs of business and the voluntary sector is available from the Office for Civil Society, 1 Horse Guards Road, London. SW1A 2HQ (020 7271 6282) and is annexed to the Explanatory Memorandum which is available alongside the Order on www.legislation.gov.uk .