Charities: Going concern

Trustees and/or directors of charities, have a responsibility to ensure that the charity operates as a going concern. While this is a continuing responsibility, it is most relevant when preparing the charity’s annual report and financial statements. Significant changes to the operating environment, for example the COVID-19 pandemic, require Trustees and management to reassess the charity's financial position and its ability to continue operating as a going concern.

Our guidance will assist Trustees and management in considering all necessary elements and providing clear and concise financial reporting disclosures that meet the statutory, and other, financial reporting requirements.