Spring is in the air and with each of the home nations relaxing lockdown measures, charities will be cautiously optimistic that the difficulties of the last 12 months created by the COVID-19 pandemic are coming to an end. There is still much to consider though on how charities can return to ‘normal’ with the services they provide and the fundraising activities they undertake. Fortunately, there is guidance on offer from the sector’s regulators and advisory bodies to help with the process.
Many charities will have seen their financial position deteriorate over the last year, so it was good to see some additional support for the sector announced in the recent Budget speech. Despite this the need for trustees to address the issue of whether their charity is a going concern is more important than ever, and recent changes to the going concern standard auditors have to follow is likely to see this area needing to be considered and documented in greater detail than ever before.
The pandemic has also taken its toll on the health of the nation, not just as a result of the virus itself but also on people’s mental health and wellbeing. Charities will need to be aware of this and provide necessary support to their staff and volunteers to help them through these challenging times.
So although the end of the pandemic is hopefully now in sight the challenges faced by charities is set to continue for some time yet. One thing that we can be certain of though is that the resolve shown by charity trustees, staff and volunteers in recent times will continue and enable the sector to play the vital role it will have in helping to rebuild post-pandemic society.
How we can help
For further guidance on issues currently affecting the charity sector our Spring 2021 Charity Newsletter has been designed to keep your charity clients up to date on the major issues they face. Although issues related to the pandemic take centre stage, it also provides a roundup of other topical issues of interest to those working in the charity sector, including the latest accounting, taxation and governance guidance. Matters covered include the updated Charity Governance Code, fundraising accounts disclosure requirements and off-payroll working.