Regulations
Ongoing Regulation for Registered Charities
Preparation, Auditing and Filing of Accounts
By virtue of the Charities (Accounts) (Amendment of Amounts) Order 2011 audit/examination requirements are:
| Charity’s Gross Income in the Accounting Year | Statutory Requirement for External Examination of Charity’s Accounts |
|---|---|
| Less than or equal to £25,000 | No requirement for external examination (charities still have to file accounts with the General Registry within 6 months of year end.) |
| Greater than £25,000 but less than or equal to £250,000 | Full Audit or an independent examination by an accountant, a qualified ‘independent examiner’ or a person approved by the First Deemster |
| Greater than £250,000 | Full Audit by an accountant or a person approved by the First Deemster |
However, it should also be remembered that, in addition to these statutory requirements, the charity will also have to comply with any specific account requirements detailed within its governing document (e.g. constitution/trust deed/memorandum and articles of association etc.).
The General Registry has developed guidance on independent examinations to assist charities and independent examiners.
Copies of the following are available for download on this webpage:
- The amended Charities Registration Act 1989
- The new Charities Regulations 2007
- The Report to be used by Independent Examiners (in editable form)
- Guidance on Independent Examinations (Version 2 - December 2013)
It is anticipated that these tiered requirements will assist Manx charities in fulfilling their statutory obligations whilst maintaining appropriate accountability to the public.
Notification of Changes
Details of any changes to the charity, its governing instrument, officials, etc must be filed at the General Registry, within one month after the change. Changes to be notified include:
- Changes of officials and their addresses and other contact details
- Changes of the charity’s address and other contact details
- Changes to the governing instrument (before making any changes to a governing instrument, it is advisable to ensure that these changes will not affect the charity’s charitable status)
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(Where a registered charity is also required to file details of these changes at the Companies Registry, the General Registry will accept a copy of the relevant notification, e.g. Form 9N, provided that it is submitted to the General Registry accompanied by the first page of the Schedule 3 and Update of Officials Form and which is signed by the Secretary or an existing Director)
