Member Article

Charities get help with red tape

Charities in the North East are being offered access to expertise that can help them comply with the complex regulations they face.

Chris Beaumont and Mary McArthur, chartered accountants at Clive Owen & Co LLP, based in Darlington, have recently been awarded industry accreditations in recognition of their experience of working with the third sector.

The pair have gained the Diploma in Charity Accounting from the Institute of Chartered Accountants in England and Wales.

Clive Owen & Co LLP already has around 50 charity clients and has helped them establish trading subsidiaries, as well as advising on year end accounting/audit issues and VAT issues.

Chris Beaumont, partner at Clive Owen & Co LLP, said: “Preparing the accounting for a charity is very different from doing it for a normal company. Charities often have complicated financial affairs and are governed by different and/or additional legislation. They can have a variety of income streams and have to comply with a whole host of regulations when disclosing details in their annual accounts.”

Jane Ritchie, chairman of the Vocational Learning Trust (VOLT) which won Local Charity of the Year at the Tees Valley Charity Awards last October, said: “We have always found the team at Clive Owen to be extremely helpful, particularly in explaining the complicated financial and legislative issues that can affect charities.

“It is very reassuring to know that we have accountants with these specialised skills working for us.”

Assessment for the diploma involved the submission of a comprehensive application detailing the pair’s breadth of knowledge and experience as well as providing specific examples and references from clients.

This was posted in Bdaily's Members' News section by Ruth Mitchell .