FINANCE NEWS: Annual reports still failing to hit basic technical standards


Charities are still struggling to produce annual reports that meet with basic technical requirements, according to Sir Brian Jenkins, chairman of the Charities Aid Foundation.

Jenkins, one of the judges at the Charities Annual Report and Accounts Awards this year, said many entrants failed to have their accounts signed by accountants, or did not comply with Sorp accounting standards.

"So many reports fall at the first technical hurdle,

he said.

In this year's awards, 57 of 97 entrants in the category for the smallest charity had to be ruled out. In the largest charity sector, 36 of the 160 entrants were disqualified because of technical details.

The Charities' Annual Report and Accounts Awards are run by the Charities Aid Foundation and the Institute for Chartered Accountants in England and Wales.

The awards are divided into three categories according to income, and the shortlist has just been released.

ChildLine, The Diana, Princess of Wales Memorial Fund, and Victim Support were shortlisted in category A, the section for charities with an income more than £2 million. Action on Disability and Development, Hope and Homes for Children and The Wishbone Trust were shortlisted in category B, for those with an income of £500,000 to £2 million.

Category C is for charities with an income of £100,000 to £500,000 and Harvest Help, Reach and RefAid have been nominated.

African Children's Educational Trust, Cycle West and Magic Me have been put forward for the award for charities with an income of less than £100,000.

The winners will be announced on 23 April and each charity will receive £2,000 prize money and tickets to the CAF Conference.

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