Financial management is made no simpler because you are a charitable organisation, in fact this can lead to even more rules and regulations which need to be taken care of. Volunteers and paid employees at any charity will already have a full time job without having to learn and handle technical financial matters.

Therefore employing the service of the experts is the most cost effective solution. This can save you time, for example, just assessing an item of income could involve consideration of the following:

• The objects of the charity
• The value of the item concerned
• When it is to be received
• Who it is to be received from
• Why it is being received
• The VAT consequences of its receipt
• The Corporation Tax consequences of its receipt
• The requirements of Accounting Standards
• The requirements of the Charities SORP
• Accounts disclosure issues.

This is just one example of the complexity facing professional charity finance managers. Randall & Payne can advise on how to implement and establish systems to categorise and process routine transactions. Our team has vast expertise in the issues affecting financial management and reporting in the sector.

We couple this with an excellent working relationship and tailor our service to your individual needs. We maintain regular contact with our clients, not just during the audit, but throughout the year and we build this into our overall approach to servicing a client.

We believe that investing the time to do this pays dividends at many levels over the longer-term. At the simplest level, a thorough understanding of our client’s situation allows us to target our audit work more effectively. This means we spend less time in arriving at our audit opinion - keeping annual compliance costs at an effective minimum. Where more complex issues arise, our charities team have the detailed knowledge of their clients' circumstances to allow them to take all relevant factors into account.

This means advice is delivered more quickly and is tailored to the charity’s particular situation. It also allows us to suggest solutions which would not arise from an off-the-shelf reiteration of the relevant rules and regulations.