ACCA's Call to Adjust Audit Thresholds for Charities in Scotland

Introduction

The ACCA has identified a pressing issue regarding the financial burden of audit costs on smaller Scottish charities.

Key Findings

1. The ACCA's analysis reveals that audit costs for smaller charities have doubled.
2. The increase in funding required for audits is impacting the charities' operational viability.
3. Raising the audit threshold could provide financial relief to smaller organizations.

Conclusion

In light of these findings, the ACCA is urging policymakers to consider adjustments to the audit thresholds. This change could significantly enhance the sustainability of smaller charities, allowing them to focus their resources on fulfilling their missions rather than managing excessive audit costs.