Charities

PKF-FPM provides audit, accountancy, assurance, tax and consulting services for charities and the not-for-profit sector in the UK and Ireland.

 

PKF-FPM is an established provider of specialist services to more than 200 charities in the UK and Ireland. We have a firm commitment to the not-for-profit sector and a wealth of experience in finance, accounting and governance. Our services to charities include:

Audit and assurance services for charities

There are various reasons why your charity might require an audit. These include:

  • a statutory requirement,
  • a constitutional requirement set out in the charity’s trust deed,
  • a funder’s requirement,
  • the trustees would like the extra peace of mind that an audit provides.

Whatever the reason for the audit, PKF-FPM provides a comprehensive audit service specifically tailored to charities. We have extensive experience of charity accounts and legislation and are familiar with SORP requirements.

We are committed to best practice in charity financial reporting. We believe that a charity’s annual report and accounts are a useful fundraising tool and we help our clients to improve the presentation of this information so as to maximise its fundraising potential.

We see the audit as a process that can really add value to an organisation. So, instead of simply meeting our statutory requirements as auditors, we endeavour to identify areas within your systems, controls and governance where improvements and efficiencies can be implemented.

We like to keep in touch with our clients throughout the year – not just during the audit. We keep you up to date with changes in legislation affecting your organisation and are on hand to help with anything from minor queries to big projects. We can perform independent examinations and prepare accountants’ reports for charities below the audit threshold. We also carry out grant audits for funders.

Accounts preparation for charities

For charities who manage their own bookkeeping during the year but need a bit of help at the year end, PKF-FPM can prepare annual accounts from trial balance or bookkeeping records. We prepare all the necessary year end adjustments, such as depreciation, accruals and prepayments. We will also convert your figures into a format that complies with SORP and Companies Act requirements.

Management accounts for charities

Small charities inevitably have small finance departments — often made up of just one person. Whilst they can perform the bookkeeping and day-to-day accounting functions, they often do not have the time or the expertise to produce regular management accounts or budgets. We can help you to overcome this by preparing your monthly management accounts and/or budgets. and, if required, presenting them to the trustees.

Payroll services for charities

A charity may decide to outsource its payroll function for a number of reasons. Often charities do not want the burden of keeping up to date with changing legislation and tax rates, or they don’t have the expertise or capacity in-house to manage the payroll. Sometimes it is simply more cost effective to outsource.

PKF-FPM provides outsourced payroll services for a number of charities. We calculate the monthly wages, tax and other deductions for staff, producing payslips and payroll reports, and completing annual payroll returns.

Training and mentoring for charities

At PKF-FPM, we strongly believe in empowering those we work with so that they can build their own skill-set and become less reliant on outside support.

We offer a variety of services to develop the skills of charity staff and trustees and provide bespoke training including:

  • trustee workshops on risk management, reserves policies, trustee responsibilities;
  • one-to-one training with finance staff covering issues such as SORP compliance, preparing charity accounts, developing robust
  • systems and controls;
  • finance training for non-finance staff to develop their understanding of financial issues and increase their confidence in dealing with numbers.

PKF-FPM can also deliver training at external seminars or workshops.

Our mentoring scheme — designed for finance staff who are new to the charity sector or finance staff who are taking on new areas of responsibility (such as financial strategy or management accounting) — is very successful. We identify an individual’s training and development needs, set objectives and timescales and, through a series of regular sessions, ensure that the objectives are achieved. Throughout the process we are available by phone or email to troubleshoot on specific issues.

Tax and Gift Aid

PKF-FPM provides advice and consultancy services for charities on all aspects of tax, including VAT, gift aid, corporation tax, PAYE and national insurance. We can also help you to complete your VAT and corporation tax returns and gift aid claims.

We have supported several charities through VAT inspections and gift aid audits. In the event of a visit from HMRC we can help you to prepare the necessary information, ensure you understand the implications of HMRC findings, and if necessary negotiate on your behalf. We have an established track record of reducing financial penalties in VAT inspections and gift aid audits.

We also provide advice on meeting gift aid requirements, record-keeping, donor benefits, and maximising gift aid potential.

Consultancy services for charities

PKF-FPM undertakes ad hoc consultancy projects across a variety of disciplines. Examples of our work include:

  • Fraud investigations,
  • Recruitment of finance personnel,
  • Acting as interim Finance Director,
  • Review of financial systems and controls,
  • Writing financial procedures manuals,
  • Corporate governance reviews,
  • Fundraising support

If you have a project that you would like some help with, please contact us to arrange an initial consultation to discuss the scope of the work.

Internal audit services for charities

Internal audit can help you to assess whether your current systems and procedures are adequate and whether they are being properly implemented. Regular internal audits can help charities to operate more efficiently and mitigate the risk of fraud and error. We offer a variety of internal audit services. We can work with you to help you develop your own internal audit programme. Alternatively, we can conduct the audit on your behalf, reporting our findings and recommendations to you.

Working with you

At PKF-FPM we believe in empowering those we work with. We provide tools and building blocks by sharing our knowledge and expertise. We create networks for sharing good practice and offer value for money, professionalism and quality. We believe in working ethically and responsibly and supporting local businesses where possible.

 

Testimonal

“Our audit for this year was undertaken by PKF-FPM, Mr Lowry Grant remained the Senior Statutory Auditor. In addition to providing a statutory audit function PKF-FPM also provide support and advice throughout the year. Lowry Grant is personally invited to attend all of our Audit and Governance Committees and during the course of the year will attend the majority of these meetings. His Knowledge, insight and advice on all matters pertaining to the charitable sector is greatly welcomed and appreciated”.

I would have no hesitation in recommending the appointment of PKF-FPM as external statutory auditors.

Gareth Kirk, Chief Executive, Action Cancer.

Contact us for more information on how we could help your business:

Lowry Grant l.grant@pkffpm.com Phone number: 028 908 308 01
Teresa Campbell t.campbell@pkffpm.com Phone number: 028 902 431 31