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Financial Reporting Standards for Charities

Financial Reporting Standards for Charities

20 December 2023

Since 2015 registered charities have been required to prepare financial statements under the XRB PBE standards.  

The criteria for reporting standards, what tier you report under and whether you are required to have an audit are constantly evolving.  

Please refer to the below links on the charities website for the most up to date information on tier thresholds, sample performance reports, and reporting templates. 

Reporting tiers 

Tier 1 & 2 Reporting 

Tier 3 Reporting 

Tier 4 Reporting 

Audit requirements 

Registered Charities and Incorporated Societies 

If your charity is also an Incorporated Society, you would have seen the new Incorporated Societies Act 2022 that is in force from 5 October 2023. All Incorporated Societies are required to reregister under the new Act by April 2026. 

As a registered charity there are no changes to the way you prepare your financial statements and all other financial requirements such as whether you need an audit or not remain the same as per the Charities Act 2005. 

We recommend you keep an eye on other changes your charity needs to comply with in the new Act on the following links: 

If you are unsure about anything, please see your accounting advisor for further information. 

If you require an accessible version of any content on the site please contact us and we will be happy to assist.

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