Unleashing the potential of trustees' reports
Amanda Francis highlights that whilst charity accounts today are sophisticated and detailed, their complexity obscures the full picture. It is down to the trustees’ report to provide the story behind the figures
We live in an age where the need for transparency and public accountability by charities is increasingly important. Charities play a rich and varied role in modern society but their continued success is dependent upon the public’s trust and confidence in their work. The current economic climate will result in the demands on many charities’ services increasing at the exact same time as many are struggling to raise funds. As central and local government tighten the purse strings, grant making bodies become ever more cautious as investment markets remain volatile and individuals cut back on donations simply to ‘make ends meet’. Those charities that will be successful in maintaining funding levels will be those that are able to communicate their message clearly and concisely to the outside world in a consistent and powerful manner. However, very few charities regard their trustees’ report as part of this key communication strategy – such charities are missing a trick.
Author: Amanda Francis
Amanda Francis is a partner at Buzzacott LLP, and heads up the firm’s charity and not-for-profit team. She works with a wide range of clients in this sector, providing audit, accounting and advisory services. Her particular interests lie with religious, welfare and service charities.She is co-author of Charity Accounting and Taxation published by Bloomsbury Professional.
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