Eight members of the public and the trust XAT, which provides funding to a range of charities, challenged whether v could substantiate its claim in the adverts to have created more than 900,000 volunteering opportunities.
The poster adverts were headed "Good for nothing" and were displayed on the London Underground and other transport media, including buses and trains.
In its response to the ASA, v said it had commissioned more than 900,000 volunteering opportunities by providing grants to more than 500 local and national voluntary organisations. It provided a breakdown of figures to demonstrate this.
The charity's response said some of these opportunities were one-off taster sessions and others lasted longer. Some opportunities for which funding had been granted had yet to be filled, it said.
In its adjudication report, the ASA said it was satisfied with the figures the charity provided to substantiate the claim. It will not take any further action.